People's Republic of China promulgated by Decree No. 660

　　　　　　　　　　　　　　　　　　　　　　　　　
The deposit insurance regulations Executive meeting of the State Council on October 29, 2014 67th through, are hereby promulgated and, as of May 1, 2015.
　　　　　　　　　　　　　　　　　　　　　　　　　　　　 　　Prime Minister Li keqiang
　　February 17, 2015 deposit insurance regulations

First in order to establish and regulate the deposit insurance system, protect the legitimate rights and interests of the depositors, and guard against and defuse financial risks in a timely manner and to maintain financial stability, this Ordinance is enacted.

Article in the People's Republic of China set up commercial banks and rural cooperative banks, rural credit cooperatives and other deposit-taking financial institutions (hereinafter referred to as insured institutions) shall be insured in accordance with the provisions of this Ordinance a deposit insurance. Insurance Agency in People's Republic of China branches established abroad and foreign banks in the People's Republic of China established a branch in the territory stipulated in the preceding paragraph shall not apply.

However, the People's Republic of China with other countries or regions unless otherwise arranged the deposit insurance system.

Article referred to in this Ordinance a deposit insurance refers to insurance institutions pay premiums to the deposit insurance fund management institutions, form the deposit insurance fund, the deposit insurance fund management institutions, in accordance with the provisions of this regulation to reimburse the depositors of insured deposits, and to take the necessary measures to maintain security of the deposit and the deposit insurance fund system. Article fourth insured deposits include insured institutions to absorb Yuan deposits and foreign currency deposits.

However, the financial institution deposits, senior managers in the insurance institutions of the insured deposits and deposit-insurance fund the Authority except for no other deposit insurance. Fifth deposit insurance limit payments, the maximum reimbursement limit for 500,000 yuan.

People's Bank of China, in conjunction with relevant departments of the State Council according to the economic development, structural change of deposits, financial factors such as maximum reimbursement limits, approved by the State Council after the implementation.

Same insured depositors at one institution all insured deposit accounts the deposit principal and interest aggregate amount at the highest pay up to the limit and paid; maximum payment limit exceeded part, from an insurance claim in the liquidation of property according to law.

Deposit insurance fund managers paid after the insured deposits of depositors, namely reimbursement within the context of the discharge order similar to insure depositors ' claims.

The Social Security Fund, housing Provident Fund deposit payment measures shall be formulated separately by the people's Bank of China, in conjunction with relevant departments of the State Council, the State Council for approval.

Sixth deposit insurance fund includes:

(A) the insured institutions pay premiums;

(B) in insured property liquidation distribution;

(C) deposit-insurance fund management body of the deposit insurance fund benefits;

(D) other legal income.

Article seventh deposit insurance fund management institutions shall perform the following duties:

(A) to develop and publish rules relating to their duties;

(B) the formulation and adjustment of deposit insurance rates, approved by the State Council;

(C) determine the applicable rate of insured institutions;

(D) collect premiums;

(E) management and use of the deposit insurance fund;

(F) in accordance with the provisions of this Regulation take early corrective measures and risk management measures;

(G) the provisions of the bill payments in a timely manner within the limits of the insured deposits of depositors;

(VIII) other duties as approved by the State Council.

Deposit insurance fund management institution determined by the State Council.

Eighth article of the business prior to the commencement of deposit-taking financial institutions, should the deposit insurance fund management institutions insurance formalities within the stipulated period.

Opened after the enforcement of this Act, deposit-taking financial institutions, shall be issued by the Administration for industry and commerce business license within 6 months from the date, in accordance with the provisions of insurance procedures of the deposit insurance fund management institutions. Nineth deposit insurance rates by baseline rates and risk differential rates form.

Fee rates by the deposit insurance fund management body under the economic and financial development, structure of deposits and the cumulative level of deposit insurance fund to develop and adjust the State Council for approval before implementation.

The applicable rate of insured institutions, insured by deposit insurance fund management institution in accordance with agency management and risk factors.

Article tenth premium of the insured institution shall pay, in accordance with the insurance institutions by insurance deposit and the deposit insurance fund management institutions to determine applicable rates, specific measures shall be prescribed by the deposit insurance fund management institutions.

Insurance institution shall, in accordance with the requirements of the deposit insurance fund management institutions regularly submit the insured deposits, deposit structure and determine the applicable rates, premiums, deposits and other related information necessary for the accounting.

Insurance institution shall, in accordance with the provisions of the deposit insurance fund management institutions, once every 6 months to pay premiums.

11th using deposit insurance funds should follow the principles of safety, liquidity, value, limited to the following:

(A) deposited in the people's Bank of China;

(B) investment in government bonds, Central Bank bills, higher credit ratings of financial bonds and other high grade bonds;

(C) other forms of funds approved by the State Council.

12th deposit insurance fund management institutions shall, within 3 months from the date of the end of each fiscal year developing deposit insurance fund payments, financial accounting reports, statements, and to prepare an annual report, in accordance with the relevant provisions of the State to the public.

Deposit insurance fund income and expenditure shall comply with the uniform financial and accounting system of the State, and shall be subject to auditing by the auditing departments.

13th the deposit insurance fund managers perform their duties, found in one of the following, you can check:

(A) the insured risk situation changes, you may need to adjust the applicable rates, for the verification of related situations involving rates;

(B) the insured institutions pay premiums base there may be a problem, for the verification of the size, structure and authenticity of their deposits;

(Iii) the insured institution shall submit the information and to verify the authenticity of the data.

Major problems found in the verification, shall inform the banking regulatory agencies.

14th the deposit insurance fund management institutions to participate in financial supervision and management and coordination mechanism, and with the people's Bank of China, the banking regulatory agencies and other financial management departments, agencies established mechanisms for information sharing.

Deposit insurance fund management institution information sharing mechanism should be adopted to obtain the relevant insurance bodies of the risk profile, inspection reports and ratings and other regulatory information.

Information provided for in the preceding paragraph cannot meet the controlled deposit insurance fund risks, ensure timely payments, determine needs such as differential rates, deposit insurance fund management institutions insurance institutions to submit additional information.

15th deposit insurance fund managers identified a capital shortage affect savings in insured institutions safety and security situation of the deposit insurance fund, its risk warnings.

16th insured institutions by significant asset losses and other reasons leading to capital adequacy ratio declined substantially, seriously endanger the security of security deposits and deposit insurance fund, insurance agency shall, in accordance with the deposit insurance fund management institutions, the people's Bank of China, the banking regulatory agencies required additional capital, controlling asset growth, significant transactions of credit, reduce leverage, among other measures.

Insurance Agency circumstances prescribed in the preceding paragraph, and within the period specified in the deposit insurance fund management institutions has not improved, the deposit insurance fund managers can improve their applied rates.

Article 17th deposit insurance fund managers found that insurance institutions of the People's Republic of China Banking Regulatory Act, 38th, 39th article, suggest banking regulatory agency shall take the appropriate measures.

Article 18th deposit insurance fund managers can choose to use the deposit insurance fund in the following ways, to protect the interests of depositors:

(A) in these regulations directly reimburse insured deposits within the prescribed limits;

(B) other qualified insurance institutions within the limits of the provisions of this Ordinance to pay insured deposits;

(C) to guarantee qualified insurance institutions, loss sharing, or financial support, in order to facilitate its acquisition or being taken over, dissolution or bankruptcy of the insurance agency, all or part of the business, assets and liabilities.

Deposit insurance fund management institutions in the development of deposit insurance fund when using the options specified in the preceding paragraph shall follow the principle of minimum cost of fund use.

19th under any of the following circumstances, depositors have the right to request a deposit insurance fund managers within the limits specified in these regulations, using deposit insurance funds to pay the insured deposits of depositors:

(A) of the deposit insurance fund management institutions insurance institutions to take over the Organization;

(B) the deposit insurance fund management institutions are insurance agencies to revoke the liquidation;

(C) the Court accepting an application for bankruptcy of the insurance agency;

(D) other circumstances as approved by the State Council.

Deposit insurance fund management body shall, in accordance with the provisions of this Ordinance, in the circumstances prescribed in the preceding paragraph in full within 7 working days from the date of occurrence of deposits.

20th the deposit insurance fund management institutions for children have one of the following acts, shall be subject to punishment:

(A) the premiums of the contravention;

(B) the use, use of the deposit insurance fund of the contravention;

(C) violations of provisions in full and on time deposits.

Deposit insurance fund managers abuse their powers, neglect, revealing State secrets or confidential the business secrets shall be given disciplinary action constitutes a crime, criminal responsibility shall be investigated according to law.

21st insurance agency has one of the following, by the deposit insurance fund and administration a rectification; fails or if the circumstances are serious, be recorded and as a basis for adjusting the applicable rates of the insurance institution:

(A) failing to insure;

(B) failing to timely pay premiums;

(C) failing to submit information, data or submitting false information and materials;

(D) refuse or impede verification of the deposit insurance fund and administration according to law;

(V) prejudice to the deposit insurance fund management institutions to implement deposit insurance fund scheme. Circumstances set forth in the preceding paragraph of insured institutions, deposit insurance fund management institutions insurance institutions in charge and the persons directly responsible shall be publicized.
Insurance Agency of the circumstances prescribed in the preceding paragraph, the deposit insurance fund managers can charge late fees that are not paying premiums 0.05%.

22nd before the implementation of these regulations, has been taken over by the banking regulatory agency of the State Council shall decide, revocation or people's Court has accepted a bankruptcy petition for acceptance of deposits of banking institutions, these regulations do not apply. 23rd article of the regulations come into force on May 1, 2015.