People's Republic Of China Commercial Banks

Original Language Title: 中华人民共和国商业银行法

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    Xinhuanet, Beijing, December 27-the Standing Committee of the national people's Congress on revising the People's Republic of China commercial bank law decision of December 27, 2003 Deputies adopted at the sixth meeting of the Standing Committee article third, fourth amendment: "bills acceptance and discounting"; seventh is amended as: "the sale of government bonds, financial bonds"; an additional, as the tenth: "engaging in bank card business." One paragraph is added as a third paragraph: "commercial banks approved by the people's Bank of China, engaged in the settlement and sale businesses. "Second, the fourth paragraph is amended as:" commercial bank based on principles of safety, liquidity, efficiency, independently operate, at your own risk and profit, self-restraint. "Third, tenth revised as follows:" commercial banks shall be subject to the supervision and management of the banking regulatory agency of the State Council, but the law requires the operations other supervision and management departments or institutions supervision and management in accordance with its provisions.
    "And the corresponding article, 11th, 14th to 16th, 19th to 21st, 23rd, 24th article, 25th, 39th and 56th, 62nd, 64th, 65th, 67th to 71st in the" people's Bank of China "is amended as" the banking regulatory agency of the State Council ".
    Four, 12th third modification of article: "with professional knowledge and work experience of the directors and senior management". Modified the second paragraph to read: "the establishment of commercial banks should also conform to other prudent conditions. "Five, 13th revised as follows:" establishment of national commercial banks ' minimum registered capital of 1 billion yuan. Establishment of city commercial bank's minimum registered capital of 100 million Yuan, setting up rural commercial bank the minimum registered capital of 50 million Yuan.
    Registered capital shall be paid up capital. "The banking regulatory agency of the State Council according to the requirements of prudential supervision can adjust the minimum amount of the registered capital, but shall not be less than the limits prescribed in the preceding paragraph.
    "Six, 15th of the second amendment as follows:" of the proposed qualifications of Directors and senior managers "; the fifth is amended as:" the shareholders holding a registered capital of more than 5% of credit and related information ". Seven article 18th, amended to read: "the Board of supervisors of State-owned commercial banks. Method for selecting the Board of supervisors shall be prescribed by the State Council.
    "Eight, 24th, fifth in the first paragraph is amended as:" the change holds total assets or total shares 5% per cent of the shareholders ". Second paragraph is amended as: "the replacement of the directors and senior management staff, should be reported to the banking regulatory agency of the State Council to review their qualifications.
    "Nine, 27th" may not serve as the senior management personnel of commercial banks "and amended as:" do not serve as the directors and senior management personnel of commercial banks. " Ten, 28th revised as: "any units or individuals to buy shares of a commercial bank 5% per cent of the total, should be prior to the approval of the banking regulatory agency of the State Council.
    "XI by deleting the 41st paragraph. 12, 42nd article is revised as follows: "the borrower does not return the loan, commercial bank legally entitled to demand that the surety loan principal and interest or in respect of the collateral priority right to be repaid. Obtained commercial mortgage, pledge of real estate or equity, shall be made within two years from the date of the disposition. "13, 43rd, modified to:" commercial banks in the People's Republic of China territory shall not engage in trust investment and stock business, not to non-private real estate investments or investing in non-banking financial institutions and enterprises, except as otherwise provided. "14, 46th, the first paragraph is amended as:" the interbank, shall comply with the provisions of the people's Bank of China. Prohibit the use of borrowed funds to issue fixed assets loans or to invest. "XV, 50th is revised as follows:" commercial banks to conduct business and provide services and charge fees in accordance with the provisions. Fees and standards shall be formulated by the banking regulatory agencies, people's Bank of China according to the Division of responsibilities, respectively, in conjunction with the competent departments. "16, 54th is amended as:" the Bank shall, in accordance with the law and the national unified accounting system, as well as relevant provisions of the banking regulatory agency of the State Council, establish and improve the Bank's financial and accounting systems. "17, 55th is amended as:" the Bank shall, in accordance with relevant regulations of the State, true record and fully reflect its business activities and the financial situation, prepare an annual financial report, to the banking regulatory agency of the State Council, the people's Bank of China and the State Council finance departments to submit. Commercial banks are not allowed outside the statutory accounting records separate accounting records. "18, 59th is amended as:" the Bank shall, in accordance with the relevant provisions, formulate their own business rules, establish and improve the Bank's risk management and internal control systems. "Article 19, 61st is revised as follows:" commercial banks should be in accordance with the provisions of the banking regulatory agency of the State Council and the people's Bank of China to submit balance sheets, income statements, and other financial and statistical reports and information. "Adding a paragraph to article 20, 62nd, second paragraph:" the people's Bank of China is entitled to in accordance with the People's Republic of China Law on the rules of the 32nd, 34th, provide for inspection and supervision of commercial banks. "21, and 73rd article increased a paragraph, as second paragraph:" has Qian paragraph provides case of, by State banking supervision management institutions ordered corrected, has illegal proceeds of, confiscated illegal proceeds, illegal proceeds 50,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 50,000 yuan of, at 50,000 yuan above 500,000 yuan following fine. "22, and 74th article modified for:" commercial banks has following case one of, by State banking supervision management institutions ordered corrected, has illegal proceeds of, confiscated illegal proceeds, illegal proceeds 500,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 500,000 yuan of, at 500,000 yuan above 2 million Yuan following fine; plot special serious or late not corrected of, can ordered closed reorganization or revoked its business license; constitute crime of, Law held criminal: "(a) without approved established branch institutions of;" (ii) without approved Division, and merged or violation provides on change matters not approval of; "(three) violation provides improve or reduced interest rate and used other not due means, absorption deposits, issued loan of;" (four) rental, and lending business license of; "(five) without approved sale, and agent sale exchange of;" (six) without approved sale Government bonds or issued, and sale financial bonds of; "(seven) violation national provides from Trust to non-private real estate investment and portfolio management services, investment or investing in non-banking financial institutions and enterprises "(VIII) to provide credit to those loans or guaranteed loans terms more favorable than conditions of similar loans to other borrowers. "23, and increased a article, as 75th article:" commercial banks has following case one of, by State banking supervision management institutions ordered corrected, and at 200,000 yuan above 500,000 yuan following fine; plot special serious or late not corrected of, can ordered closed reorganization or revoked its business license; constitute crime of, law held criminal: "(a) refused to or hinder state banking supervision management institutions check supervision of;" (B) provide false or concealing important facts of financial accounting reports, statements and statistics the "(c) failure to comply with capital adequacy ratio, loan ratio, liquidity ratio, the same borrower loans and the banking regulatory agency of the State Council other provisions related to asset-liability ratio management. "24, and increased a article, as 76th article:" commercial banks has following case one of, by people's Bank of China ordered corrected, has illegal proceeds of, confiscated illegal proceeds, illegal proceeds 500,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 500,000 yuan of, at 500,000 yuan above 2 million Yuan following fine; plot special serious or late not corrected of, The PBC may recommends that the banking regulatory agency of the State Council shall order rectification or revoke its business license constitutes a crime, criminal responsibility shall be investigated according to law: "(a) to purchase foreign exchange without approval and sale of" (ii) unauthorized inter-bank bond market, buying and selling bonds or borrowing from overseas "(c) violations of the provisions of the interbank. "25, and increased a article, as 77th article:" commercial banks has following case one of, by people's Bank of China ordered corrected, and at 200,000 yuan above 500,000 yuan following fine; plot special serious or late not corrected of, people's Bank of China can recommends state banking supervision management institutions ordered closed reorganization or revoked its business license; constitute crime of, law held criminal: "(a) refused to or hinder people's Bank of China check supervision of;" (B) provide false or concealing important facts of financial accounting reports, statements and statistics the "(c) deposited in the reserve in accordance with the rules of the ratio.
    "26, by deleting section 75th. Article 27, 76th to 78th and amended as: "the commercial banks under the circumstance of the 73rd to 77th of this law, directors and senior managers directly responsible and other persons directly responsible, should be given disciplinary punishment constitutes a crime, criminal responsibility shall be investigated according to law. ”

    28, and 77th article to 79th article, modified for: "has following case one of, by State banking supervision management institutions ordered corrected, has illegal proceeds of, confiscated illegal proceeds, illegal proceeds 50,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 50,000 yuan of, at 50,000 yuan above 500,000 yuan following fine:" (a) without approved in name in the using "Bank" words of; " (B) the unauthorized purchase of shares 5% per cent of total commercial bank "(c) unit of stored funds to open an account in his own name.
    "Article 29, 78th to 80th, amended to read:" in accordance with the provisions of commercial banks to the banking regulatory agency of the State Council to submit relevant documents and information, the banking regulatory agency of the State Council shall order rectification, it fails, fines of between 100,000 yuan and 300,000 yuan. "Commercial banks in accordance with the provisions to the people's Bank of China shall submit the relevant documents and information, and by the people's Bank of China ordered corrective action and fails to correct it, fines of between 100,000 yuan and 300,000 yuan.
    "30, 79th to 81st, amended to read:" without the approval of the banking regulatory agency of the State Council, any establishment of commercial banks, or illegal pooling of public deposits, absorbing public deposits in disguised form, constitute a crime, criminal responsibility shall be investigated in accordance with law and be banned by the banking regulatory agency of the State Council. "Forging, altering, transferring commercial bank license constitutes a crime, criminal responsibility shall be investigated according to law. "31, and increased a article, as 83rd article:" has this method 81st article, and 82nd article provides of behavior, is not constitute crime of, by State banking supervision management institutions confiscated illegal proceeds, illegal proceeds 500,000 yuan above of, and at illegal proceeds 1 time times above five times times following fine; no illegal proceeds or illegal proceeds insufficient 500,000 yuan of, at 500,000 yuan above 2 million Yuan following fine. "32, 81st to 84th, the first paragraph is amended as:" commercial bank personnel who take advantage of the convenience of duty, to ask for or accept bribes or rebates, and in violation of State regulations to accept a variety of fees, constitute a crime, criminal responsibility shall be investigated according to law; does not constitute a crime, he shall be given disciplinary sanctions. "33, 82nd, 85th instead, amended to read:" commercial bank personnel who take advantage of the convenience of duty, embezzlement, misappropriation, embezzlement or customer funds of the Bank, constitutes a crime, criminal responsibility shall be investigated according to law; does not constitute a crime, he shall be given disciplinary sanctions.
    "34, the addition of an article, as the 89th section:" commercial bank violates the provisions of this law, banking regulatory body under the State Council can distinguish different situations, directly responsible to cancel the directors and senior management must term life qualifications, prohibition is directly responsible for the directors and senior management staff and other persons directly responsible for a certain period until a lifetime engaged in banking. "The Bank does not constitute a crime, to directors and senior managers directly responsible and other persons directly responsible, given a warning and fines of between 50,000 yuan and 500,000 yuan. "35, 86th to 90th and amended as:" commercial banks and their staff on the State banking regulatory agencies, refuses to accept the decision of the people's Bank of China, in accordance with the People's Republic of China administrative litigation lawsuit to the people's Court. "36, 88th, 92nd instead and be amended as:" foreign-funded banks, Sino-foreign joint venture commercial banks, branches of foreign banks apply the provisions of this law, otherwise stipulated by laws, administrative regulations, in accordance with its provisions. "37, 90th to 94th and amended as:" the postal enterprises handle the business of commercial banks, this law shall apply to the relevant provisions.
    "This decision shall take effect on February 1, 2004. People's Republic of China on commercial banks under the terms of this decision be amended accordingly and the order adjusted accordingly, republished. (End)