People's Republic Of China Implementing Rules For The Regulations Of Foreign Banks

Original Language Title: 中华人民共和国外资银行管理条例实施细则

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Get a Day Pass for only USD$9.99.
(November 24, 2006 Chinese Banking Regulatory Commission in 2006 the 6th release from December 11, 2006) Chapter I General provisions article in accordance with the People's Republic of China Banking Regulatory Act and the People's Republic of China on commercial banks and the People's Republic of China regulations on the management of foreign banks (hereinafter the regulations), these rules are formulated. Referred to in article II of the regulations refers to the banking regulatory authority under the State Council of China Banking Regulatory Commission (hereinafter referred to as the China Banking Regulatory Commission), refers to the banking regulatory body CBRC and its local agencies. Second chapter established and registration third article Ordinance and this rules by said carefully sex conditions, at least including following content: (a) has good of industry reputation and social image; (ii) has good of continued business performance, assets quality good; (three) management layer has good of professional quality and management capacity; (four) has sound of risk management system, can effective control associated trading risk; (five) has sound of internal control system and effective of management information system; (F) in accordance with prudent accounting principles financial accounting report, and for 3 years prior to the application of the accounting firms have no reservations in its financial statements; (VII) no major violation records; (VIII) effective complementary mechanism of capital control and capital; (IX) having a sound corporate governance structure. Subsection (h), (I) applies to foreign-owned banks and their shareholders and foreign banks, Sino-foreign joint venture banks and shareholders. Fourth article Ordinance 11th article by said main shareholders, is refers to holds intends set Sino-foreign joint venture bank capital total or shares total 50% above, or not holds capital total or shares total 50% above but and intends set Sino-foreign joint venture Bank Zhijian has following case one of of commercial banks: (a) holds intends set Sino-foreign joint venture Bank half above of voting; (ii) right to control intends set Sino-foreign joint venture Bank of financial and business policy; (C) the right to appointment and removal of the proposed Chinese-foreign joint venture Bank majority members of the Board of directors or similar authority; (d) in the proposed Chinese-foreign joint venture Bank's Board of directors or similar authority over half of voting. Sino-foreign joint venture Bank's main shareholders are proposed should be proposed Chinese-foreign joint venture Bank into its scope and table. Fifth article has following case one of of, shall not as intends set foreign owned bank, and intends set Sino-foreign joint venture Bank of shareholders: (a) company governance structure and mechanism exists obviously defects; (ii) equity relationship complex or transparency low; (three) associated Enterprise many, associated trading frequently or exception; (four) core business not highlight or business range involved industry too much; (five) other on intends set Bank produced major adverse effect of case. The sixth article of the Ordinance the tenth to 12th set up an application referred to in article 1 prior year refers to the end of the fiscal year ending on the date of application; capital adequacy in line with provisions of the banking regulatory agency of the State Council is the capital adequacy ratio of not less than 8%. Seventh 14th article of the Ordinance and these rules, 15th, 26th, 30th, feasibility study report referred to in article, including the applicant's basic situation, the prospects of the proposed branch market analysis, proposed future business development plans, the proposed branch management structure, bodies established to be opened after 3 years of balance sheets and earnings forecasts. The Ordinance feasibility study mentioned in the 20th article, includes the applicant's basic situation, the purpose of the proposed representative office and programme. Eighth article 14th of the regulations (a) referred to the proposed name of the institution, 20th (a) referred to the proposed name of the representative office shall include the name and foreign name. Branch of a foreign bank Representative Office's name shall be indicated in the foreign bank's nationality and liability. Nineth mentioned in the Ordinance or these rules shall license, financial business license scanned documents, power of Attorney, branch of a foreign bank in China to take tax, debt guarantee, should be recognized by the country or region where bodies notarized and authenticated by the Embassy or Consulate of the country China in. China Banking Regulatory Commission, as necessary, may require the applicant to submit the application for other information by the host country or regional institutions recognized by the notary, and the Chinese embassies or consulates in the country. Tenth annual report referred to in the Ordinance or these rules shall be subject to audit, and appended to the applicant's country or region authorized accounting firms audit opinion issued by the. In Chinese or English text edition of the annual report should be accompanied by a translation in English or Chinese. 11th the initial establishment of a foreign bank, shall be submitted to countries or regions in which the financial system and for a summary of financial regulation. Set up a representative office for the first time, shall be submitted by banking institutions registered in China issued with proof of the foreign bank has established agent bank relationships. Additional branches in China by the 12th foreign bank, in addition to having the regulations the Nineth, 12th conditions provided for in article, which has set up a branch in the territory of China shall meet the prudential requirements under the China Banking Regulatory Commission. Opening of representative office in China of foreign banks, in addition to the regulations stipulated in the Nineth of conditions, has set up representative offices in China by its should be no major violation records. The 13th foreign-funded banks and Sino-foreign joint venture Bank to establish a branch shall satisfy the prudential requirements under the China Banking Regulatory Commission. 14th article of the Ordinance, 14th, 17th, 20th, the term refers to the seat of the local banking regulatory body CBRC; call to submit means from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the China Banking Regulatory Commission. Regulation article 14th, 17th, 20th, the term application materials, shall be sent to the proposed branch or the proposed agency representatives at the seat of the China Banking Regulatory Commission. Regulations referred to in article 14th, 20th, application, should be established wholly foreign-owned banks, Sino-foreign joint venture Bank Chairman of the Board or of the parties funded President (CEO, General Manager) signed jointly, or by the proposed branch, Representative Office of the foreign bank's Chairman or President (CEO, General Manager) signed by Chairman of the China Banking Regulatory Commission. 15th article foreign owned bank, and Sino-foreign joint venture Bank established branch, should first application preparation, and will following application information submitted its head office location silver prison Council (a type two copies), while cc intends set branch location silver prison Council: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications, content including intends set branch of name, and location, and operating funds, and application business of business type,; (ii) feasibility research report; (three) applicants articles; (D) annual report of the applicant; (e) the applicant's anti-money laundering regime; (vi) copy of business license of the applicant; (g) the Board of Directors resolution, application to establish a branch; (h) other information required by the China Banking Regulatory Commission. Foreign-funded banks, Sino-foreign joint venture Bank Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the China Banking Regulatory Commission. Proposed branch home banking Board shall from the date of receipt of application materials will review comments submitted in the 20th the CBRC. 16th to set up foreign-funded banking institutions, the applicant shall, from the date of receipt of the notice of approval to proposed in the 15th place opened to receive the application form of the CBRC, China, started work. Preparation period the applicant shall set up a preparatory group responsible for preparatory work and head of the preparatory group list submitted to the local agency of the China Banking Regulatory Commission, after completion of the preparation and dissolution of the preparatory group. Preparing for a period of 6 months. Opening fails to receive application forms, approved within 1 year from the date of its construction, the China Banking Regulatory Commission and its agencies not to entertain the applicants in the same city in China to set up business on the application. 17th article established foreign bank business sex institutions, applicants in preparation period within should completed following work: (a) established sound of company governance structure, and will company governance structure description submitted location China silver prison will sent institutions (only limited foreign owned bank, and Sino-foreign joint venture Bank); (ii) established internal control system, including internal organization structure, and authorized award letter, and credit management, and funds trading, and accounting, and computer information management system of control system and operation, And will internal control system and operation submitted location China silver prison will sent institutions; (three) equipped with meet business development need of, and appropriate number of, and and has accept policy regulations and the business knowledge, related training of business personnel, to meet on main business risk effective monitoring, and business grading approval and review, and key post Division and mutual contain, requirements; (four) printed intends foreign using of important business voucher and documents, and will sample submitted location China silver prison will sent institutions; (E) approved by the relevant government departments are equipped with safety facilities, and copies of relevant certificates submitted to the local agency of the China Banking Regulatory Commission; (vi) should be employed in the territory of China shall be a duly qualified firm of public accountants in their internal control systems, accounting systems, computer systems, the pre-commissioning audit and audit report submitted to the local agency of the China Banking Regulatory Commission. The 18th applicant requesting an extension of the preparatory period, should be under construction before the expiry of 1 month to the local agency of the China Banking Regulatory Commission apply. Applications by foreign banking institutions to be established preparatory group signature. Local agency of the China Banking Regulatory Commission shall be from the date it received the full application of the extension of the preparation period in the 15th to approve or disapprove the decision to extend the preparation period, and notify the applicant in writing and gradually copied Chinese Banking Regulatory Commission. Decided not to grant, and shall state the reasons. Applicant does not apply for extension of planning within the prescribed period, agency of the China Banking Regulatory Commission does not accept the application. 19th foreign-funded banking institutions to be established after the construction is complete, head of the preparatory group should be submitted to the local agency of the China Banking Regulatory Commission before starting inspection. Local agency of the China Banking Regulatory Commission acceptance should be carried out in the 10th. Acceptance, shall be given to the acceptance of submissions. Unqualified acceptance, it shall notify the applicant, the applicant may 10th after the date of receipt of the notice of the proposed place of bodies for the reinspection of the CBRC, China. 20th article by acceptance qualified completed preparation work of, applicants should will acceptance qualified submissions, and intends set foreign bank business sex institutions preparatory group head signed of to China silver prison will President of opened application book together with Ordinance 17th article provides of application information submitted intends set institutions location silver prison Council (a type two copies), while cc intends set institutions location China silver prison will sent institutions. Place of proposed banking Board shall be from the date it receives the complete information on applications for approval of applications within the 20th information, acceptance of submissions, together with comments submitted to the CBRC. After the 21st foreign-funded banking institutions permitted to practice, shall, in accordance with the relevant provisions for financial licences. 22nd foreign-funded banking institutions should be since the date of business license within 6 months of opening. Under special circumstances, the local agency of the China Banking Regulatory Commission approved opening could be postponed. Foreign-funded banking institutions for the extension of opening shall be opened before the expiry of 1 month to the local agency of the China Banking Regulatory Commission for extension of business applications. Applications by foreign-funded banks and Sino-foreign joint venture Bank's Chairman or President (CEO, General Manager) or the head of the branch of a foreign bank (General Manager) signed. Local agency of the China Banking Regulatory Commission shall, upon receiving the delayed opening of the complete application documents within 15th of approval or not approval to extend the opening decision and notify the applicant in writing and gradually copied Chinese Banking Regulatory Commission. Decided not to grant, and shall state the reasons. Foreign-funded banking institutions is not submitted within the prescribed delay applications for approval, agency of the China Banking Regulatory Commission does not accept an application for its delayed opening. Open extension of the maximum period of 3 months. And the time of opening foreign-funded banking institutions failed to open, the approval of open void. Foreign-funded banking institutions should be returned to the financial license to the China Banking Regulatory Commission. Within 1 year from the date of the approval of business failure, the China Banking Regulatory Commission and its agencies not to entertain the applicants apply in the same city as commercial institutions. Article 23rd foreign banking institutions before the opening date of opening should be in writing submitted to the local agency of the China Banking Regulatory Commission. Foreign-funded banking institutions before opening at the China Banking Regulatory Commission to be appointed by the national newspapers and location specified by the Agency of the China Banking Regulatory Commission announcement on a local newspaper. 24th article of the Ordinance from the 15th to 19th and 16th to 23rd in these rules shall apply to foreign-owned banks and Sino-foreign joint venture bank branches. 25th foreign bank branches in China by its conversion to wholly foreign-funded Bank funded by the its headquarters alone, shall comply with the Ordinance and these rules, the conditions for the establishment of wholly foreign-owned bank, and in China is long-term sustainable and effective management of the proposed wholly foreign-funded Bank. 26th article foreign bank will its in China territory of branch restructuring for by its head office separate funded of foreign owned bank, should while application preparation foreign owned bank and will its in China territory of all foreign bank branch restructuring for foreign owned bank branch, and will following application information submitted intends set foreign owned bank head office location silver prison Council (a type two copies), while cc the foreign bank in China territory of all branch location China silver prison will sent institutions. (A) foreign bank Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications, content including intends set foreign owned bank and branch institutions of name, and location, and registered capital or operating funds, and application business of business type,; (ii) feasibility research report and institutions restructuring plans; (three) intends set foreign owned bank of articles draft and in China territory law established of lawyer firm issued of on articles draft of legal submissions; (Four) Foreign Bank Board on agreed will original foreign bank branch restructuring for by its head office separate funded of foreign owned bank of resolution; (five) foreign bank Chairman or President (CEO, and General Manager) signed of agreed by intends set foreign owned Bank inherited original foreign bank branch claims, and debt and the tax of views letter, and in China territory long-term continued business and on intends set foreign owned bank implementation effective management of commitment letter; (Vi) 2 years prior to the application of the branch of a foreign bank in China all audited consolidated financial statements; (VII) country or region where the applicant submissions in reforming financial regulation authorities; (h) the last 3 years annual report of the applicant; (IX) other information required by the China Banking Regulatory Commission. Location of the proposed wholly foreign-funded Bank banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 6 months to approve or disapprove the decision to reform, and notify the applicant in writing. Decided not to grant, and shall state the reasons. The 27th Foreign Bank intends to retain 1 engaged in foreign exchange wholesale business branches, should seek to build foreign-owned banks at the same time to apply. Original foreign bank branch should determine respectively by engaged in Exchange wholesale business of foreign bank branch and foreign owned bank branch inherited of claims, and debt and tax, and will prepared good of assets, and liabilities and owner interests of listing together with by applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications, together with this rules 26th article provides of application information together submitted intends set foreign owned bank head office location silver prison Council (a type two copies), With a copy to the original location of the branch of a foreign bank Agency of the China Banking Regulatory Commission. 28th foreign bank branches in China by the reforming its head office on the grounds of separately-funded foreign-owned banks, approved by the China Banking Regulatory Commission, the original branch of a foreign bank operating fund verified by a merge could be transferred to the registered capital of foreign-invested banks, or back to their headquarters. 29th article foreign bank will its in China territory of branch restructuring for by its head office separate funded of foreign owned bank of, by acceptance qualified completed preparation work, should will acceptance qualified submissions together with following application information submitted intends set foreign owned bank head office location silver prison Council (a type two copies), while cc original foreign bank branch location China silver prison will sent institutions: (a) intends set foreign owned bank preparatory group head signed of to China silver prison will President of opened application book, Content including intends set foreign owned bank and branch institutions of name, and business address, and registered capital or operating funds, and application business of business type,; (ii) intends into intends set foreign owned bank of assets, and liabilities and owner interests of listing; (three) by in China territory law established of qualified of Accountants firm issued of registered capital inspection funding proved; (four) intends any foreign owned bank of Chairman, and President and foreign owned bank branch President, and with City Branch President of list, and resume, and ID ming, and Copies of degree certificates; (v) foreign-owned bank branch manager, branch manager of a power of Attorney in the same city; (f) the signed statement of a clean record to be appointed; (VII) other information required by the China Banking Regulatory Commission. Location of the proposed wholly foreign-funded Bank banking Board shall be from the date it receives the complete information on applications for approval of applications within the 20th information, acceptance of submissions, together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 2 months to approve or disapprove the opening decision and notify the applicant in writing. Decided not to grant, and shall state the reasons. 30th article Foreign Bank intends in China territory retained 1 home engaged in Exchange wholesale business of branch, should in intends set foreign owned bank application opened of while, will following application information submitted intends set foreign owned bank head office location silver prison Council (a type two copies), while cc original foreign bank branch location China silver prison will sent institutions: (a) foreign bank Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications, content including intends retained branch of location, and operating funds, and Business for which application type, (ii) the feasibility study report, (iii) proposes to retain the branch of a foreign bank engaged in foreign exchange wholesale business assets, liabilities and owner's equity listing; (d) established by the law in China's capital verification certificate issued by a duly qualified firm of public accountants, (v) other information required by the China Banking Regulatory Commission. Location of the proposed wholly foreign-funded Bank banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 2 months to approve or do not approve to keep 1 decisions of the foreign bank branch engaging in foreign exchange wholesale business, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 31st foreign bank branches in China by its conversion to wholly foreign-funded Bank funded by the its headquarters alone, should the proposed wholly foreign-funded Bank start-up period, and go through the registration formalities, the China Banking Regulatory Commission to be appointed by the national newspaper and the Agency of the China Banking Regulatory Commission, where the local newspaper announcement specified. After the establishment of the 32nd Foreign Bank representative office is approved, shall, in accordance with the relevant provisions of the Administrative Department for industry and commerce registration. Representative Office of a foreign bank shall go through the registration formalities, the China Banking Regulatory Commission to be appointed by the national newspaper and the location specified by the Agency of the China Banking Regulatory Commission announcement on a local newspaper. Representative Office of a foreign bank shall from the date of approval of the China Banking Regulatory Commission to set up within 6 months into a fixed office space, beyond 6 months have yet to start Office, China Banking Regulatory Commission originally approved the decision failure. 33rd article Foreign Bank representative at moved fixed Office places Hou, should to location China silver prison will sent institutions submitted following information: (a) representative at basic situation registration form; (ii) business registration card copies; (three) internal management system, content including representative at of duties arrangements, and internal division and internal report system,; (four) Office places of rental contract or property proved copies; (five) equipped with Office facilities and rental telecommunications sector data communications line of situation; (six) seal, and Document paper samples and samples of staff use business cards and (g) other information required by the China Banking Regulatory Commission. Article 17th of 34th article of the Ordinance (vi) referred to other information, include at least the principal persons in charge of identification and copies of degree certificates and signed statement of a clean record. The 17th of the Chief referred to in the preceding paragraph of this article refers to the Chairman and President (CEO, General Manager). 35th article foreign owned bank, and Sino-foreign joint venture Bank change registered capital, and change shareholders or adjustment shareholders holding proportion, foreign bank change in China territory branch operating funds, should will following application information submitted location silver prison Council (a type two copies), while cc foreign bank business sex institutions location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) foreign owned bank, and Sino-foreign joint venture Bank on change matters of Board resolution; (three) foreign owned bank, and Sino-foreign joint venture Bank funded Parties on change matters of Board resolution or its statutory representative people signed of submissions, foreign owned bank, and Sino-foreign joint venture bank transfer party and intends by let party is financial institutions of, should submitted where national or area financial regulatory authorities on change matters of submissions; (four) foreign owned bank, and Sino-foreign joint venture bank related shareholders signed of transfer agreement or contract; (V) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or not approve the change of decision and notify the applicant in writing. Decided not to grant, and shall state the reasons. 36th foreign-funded banking institutions are allowed to change the registered capital or working capital, change or adjust the shareholding ratio of the shareholders shall, from the date of receiving the approval of the China Banking Regulatory Commission documents in the 30th, employed in the territory of China shall be a duly qualified firm of public accountants for verification, and the capital verification certificate submitted to the local agency of the China Banking Regulatory Commission. 37th article foreign bank for merged, and Division intends change its in China territory branch institutions name of, can to China silver prison will proposed preliminary application, and submitted following application information: (a) foreign bank Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) foreign bank where national or area financial regulatory authorities on its merged, and Division of license file or instruments of ratification. The China Banking Regulatory Commission after receipt of complete application materials, with confirmation in the form of a signed letter of his application. Foreign Bank should in official merged, and Division, change matters occurred 5th within, to China silver prison will and the the foreign bank in China territory branch institutions location China silver prison will sent institutions report, and Yu 30th within will following application information submitted China silver prison will (a type two copies): (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) fill in good of China silver prison will issued of application table; (three) applicants articles; (Four) applicants organization structure figure, and Board and main shareholders list; (five) applicants Chairman or President (CEO, and General Manager) signed of on its in China territory branch bear tax, and debt of responsibility guarantee; (six) applicants merged financial report; (seven) applicants in China territory branch President (General Manager), and Chief of resume, and ID Ming and degree proved of copies; (eight) applicants Chairman or President (CEO, and General Manager) signed or authorized signatory to its branch in China (General Manager), Chief Representative of the power of Attorney; (I) the applicant financial business license or other license copies of documents and country or region changes to foreign banks by the financial supervision authority permits documents or instruments of ratification and (j) other information required by the China Banking Regulatory Commission. Foreign banks in the alteration of the China Banking Regulatory Commission submitted a preliminary application and formal application materials at the same time, application materials should be copied to the location of the branches of foreign banks in China Agency of the China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or not approve the change of decision and notify the applicant in writing. Decided not to grant, and shall state the reasons. Article 38th of foreign bank branches in China by application to change for other reasons the name, the following application materials should be submitted to the China Banking Regulatory Commission (in duplicate), and copy to the location of the branches of foreign banks in China Agency of the China Banking Regulatory Commission: (a) the applicant, Chairman or President (CEO, General Manager) application signed by Chairman of the China Banking Regulatory Commission; (B) the renamed copy of the business license or any other financial business license copy, as well as foreign financial supervision authority on the country or region where the Bank was renamed its instrument of ratification of, and (iii) other information required by the China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or not approve the change of decision and notify the applicant in writing. Decided not to grant, and shall state the reasons. 39th foreign banking institutions after the merger or Division of registered capital or working capital, scope of business approved by the China Banking Regulatory Commission again. 40th foreign-funded banks and Sino-foreign joint venture Bank name, should be submitted to the China Banking Regulatory Commission by its Chairman or President (CEO, General Manager) application signed by Chairman of the China Banking Regulatory Commission (in duplicate), with a copy to the institution of the CBRC, China Head Office is located. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or not approve the change of decision and notify the applicant in writing. Decided not to grant, and shall state the reasons. 41st article foreign bank business sex institutions and branch institutions in same city within change business places or foreign Bank representative in same city within change Office address, should will following application information submitted location China silver prison will sent institutions: (a) foreign owned bank, and Sino-foreign joint venture Bank of Chairman or President (CEO, and General Manager), and foreign bank branch of President (General Manager) or representative at Chief signed of to location China silver prison will sent institutions of applications; (B) the foreign bank to be moved into place or Office address leasing or purchasing a copy of the contract, and (iii) other information required by the China Banking Regulatory Commission. Local agency of the China Banking Regulatory Commission should be open to foreign banks and its branch intends to change the place of acceptance. Acceptance, shall be given to the acceptance of submissions. Unqualified acceptance, it shall explain the reasons. Foreign-funded banking institutions in the 10th after the date of receipt of the acceptance notice of not applying to the Agency of the China Banking Regulatory Commission, where re-inspection. Local agency of the China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision of change of business premises or Office address, and notify the applicant in writing and gradually copied Chinese Banking Regulatory Commission. Decided not to grant, and shall state the reasons. Foreign banks approved by the Agency of the China Banking Regulatory Commission, where the change of business premises or Office address, and must not be moved to the new place of business or Office address. 42nd article content listed in the Charter of the foreign-funded banks and Sino-foreign joint venture Bank changes, content changes set out in its statute amended within 1 year after. Application modified articles, applicants should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) applicants shareholders will or Board resolution; (three) applicants of original articles and new articles draft; (four) original articles and new articles draft changes table; (E) established by the law in China issued by the law firm of legal opinions on the draft new Constitution; (F) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision to modify the articles of Association, and notify the applicant in writing. Decided not to grant, and shall state the reasons. Article 43rd foreign banking institutions temporarily closed for 3 days more than 6 months of age, shall submit an application to the local agency of the China Banking Regulatory Commission, and state the reasons and during temporary closure arrangements. Local agency of the China Banking Regulatory Commission shall receive foreign banks operating within the Agency from the date of application for a temporary business 10th approved the decision to or not to grant a temporary closure. Decided not to grant, and shall state the reasons. Approved the provisional closure of foreign banking institutions shall be announced outside the business premises. 44th approved temporary closure period expires or led to the temporary closure of elimination, temporarily closed institutions should resume operation. Original applicant shall resume business within the 5th report to the local agency of the China Banking Regulatory Commission. Business premises rebuilt, the applicant shall submit to the local agency of the China Banking Regulatory Commission premises lease or purchase copies of the contract, fire protection and security copies of the certificates before they can resume their business. Extension of provisional closure of the special circumstances so require, shall be in accordance with the provisions of this rule 43rd to reapply. 45th foreign banking institutions have the regulation situations must be listed in the article 27th financial elements contained in the license should be based on the financial regulations concerning license management change. Needs verification, foreign-funded banking institutions in China should be legally established in the territory of the capital verification certificate issued by a duly qualified firm of public accountants submitted to the local agency of the China Banking Regulatory Commission. Requires acceptance of, foreign banks operating local agency of the China Banking Regulatory Commission acceptance should be carried out. Foreign-funded banking institutions approved by the China Banking Regulatory Commission documents to the Administrative Department for industry and commerce registration, renewal of business licenses. Foreign banking institutions have the 27th article of the regulations (a) to (c) one of the circumstances listed, should be the China Banking Regulatory Commission to be appointed by the national newspaper and the location specified by the Agency of the China Banking Regulatory Commission announcement on a local newspaper. Notice shall be completed within a business license from the date of the entry into force on 30th. Article 46th Foreign Bank representative office renamed changes such as, alteration of office space, should change after registration at the location specified by the Agency of the China Banking Regulatory Commission announcement on a local newspaper. Chapter III article 29th of the regulations of business 47th article (d), 31st (d) referred to the sale of government bonds, financial bonds, the sale of foreign currency securities other than stocks including but not limited to, the following foreign investment business in China issued by overseas Chinese and foreign government bonds, bonds and financial institutions non-financial institutions in China, China bonds. Article 29th to 48th article of the Ordinance (12) and 31st (11) credit and advisory services mentioned in item refers to banking credit information and advisory services relating to the business. 49th branches of foreign banks operating in the regulations article 31st foreign exchange business, the trading funds should be not less than 200 million Yuan, or its equivalent in a freely convertible currency. 50th foreign bank branches operating under article 31st of the regulations of foreign exchange and renminbi business, the trading funds should be not less than 300 million Yuan, or its equivalent in a freely convertible currency, RMB working capital of which shall be not less than 100 million Yuan. 51st restructuring of foreign bank branches funded by its headquarters alone can inherit the original foreign bank branches of foreign-owned banks have been approved to conduct all of your business. 52nd solely foreign-funded banks, Sino-foreign joint venture banks in the authorization within the approved scope of business its branch operations. Within the business scope of foreign bank branches allowed to authorize its branch operations in the same city. 53rd regulations 34th refers to the foreign banking institutions applying for RMB business for the first time shall satisfy the conditions in (a), (b) refers to the intention to apply for RMB business by foreign banks of commercial institutions opened in 3 years, 2 years prior to the application of continuous profit. Opening is 3 years from the date of opening foreign-funded banking institutions are allowed to 3 years up to the date of filing, applied for the first 2 years of continuous profit refers to the foreign banking institutions as at the filing date of the first 2 audited financial statements show a profit in the fiscal year. Has been approved to operate RMB business by foreign banks of commercial application for expanding the scope of RMB business services shall meet the prudential requirements under the China Banking Regulatory Commission, and approved by the China Banking Regulatory Commission for approval. 54th foreign-funded banks, Sino-foreign joint venture banks engaged in RMB business for Chinese residents, in addition to outside the prudential requirements under the China Banking Regulatory Commission, should also conform to the characteristics and needs of business development business outlets. 55th article foreign bank business sex institutions application business Yuan business or expanded Yuan business service object range, should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) feasibility research report; (three) intends business business of internal control system and the operation; (D) as at the date of filing of the first 2 fiscal years audited balance sheet and profit and loss account and (v) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months of approval or approved to operate RMB business and the decision to expand the scope of RMB business service objects, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 56th article foreign bank business sex institutions should since received China silver prison will approved its business Yuan business or expanded Yuan business service object range of day up 4 months within completed following preparatory work: (a) equipped with meet business development need of, and appropriate number of business personnel; (ii) printed intends foreign using of important business voucher and documents, and will sample submitted location China silver prison will sent institutions; (three) equipped with by about sector recognized are security prevention facilities, And will about proved of copies submitted location China silver prison will sent institutions; (four) established sound Yuan business of internal control system and operation, and submitted location China silver prison will sent institutions; (five) foreign bank business sex institutions need increased registered capital or operating funds of, should hired in China territory law established of qualified of Accountants firm inspection funding, and will inspection funding proved submitted location China silver prison will sent institutions. Foreign-funded banking institutions cannot be completed within 4 months of preparations, China Banking Regulatory Commission originally approved the decision void. 57th foreign banking institutions in the preparatory work is completed, should be submitted to the local agency of the China Banking Regulatory Commission approval, the local agency of the China Banking Regulatory Commission acceptance should be carried out in the 10th. Acceptance, shall be given to the acceptance of submissions. Unqualified acceptance, 10th foreign-funded banking institutions may receive notices submitted to the local agency of the China Banking Regulatory Commission after reinspection. Foreign-funded banking institutions take the acceptance of submissions to the China Banking Regulatory Commission will receive the instrument of ratification. Article 58th wholly foreign-owned bank branches, Sino-foreign joint venture Bank branch at its head office within the business scope authorized to conduct RMB business. Before we engage in business, should be carried out in accordance with the provisions of the present rule 56th preparatory and head office authorization to operate RMB business books and sending Agency of the China Banking Regulatory Commission, where. Preparatory work is completed, foreign-owned banks, Sino-foreign joint venture bank branches should be submitted to the local agency of the China Banking Regulatory Commission acceptance. Local agency of the China Banking Regulatory Commission shall, upon receipt of the acceptance documents acceptance in the 10th. Acceptance, shall be given to the acceptance of submissions. Unqualified acceptance, wholly foreign-funded Bank branch, after the 10th Sino-foreign joint venture Bank branch can receive notice to the local bodies for the reinspection of the CBRC, China. Foreign-owned banks, Sino-foreign joint venture bank branches with the acceptance of submissions to the China Banking Regulatory Commission to receive confirmation of the RMB business, and to the administrative organ for industry and commerce business license change. 59th business institutions and their branches of foreign banks RMB business or to expand the scope of RMB business service objects, shall be appointed by the China Banking Regulatory Commission national newspaper and agency of the China Banking Regulatory Commission, where the local newspaper announcement specified. 60th article foreign bank business sex institutions business Ordinance 29th article subsection (13) items or 31st article subsection (12) items business, should to foreign owned bank, and Sino-foreign joint venture Bank head office or foreign bank management line location silver prison Council submitted following application information (a type two copies), while cc foreign bank business sex institutions location China silver prison will sent institutions: (a) applicants authorized signed people signed of to China silver prison will President of applications; (B) details of the proposed business and internal control policies and procedures, and (iii) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months, the decision to approve or disapprove, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 61st foreign-funded banking institutions and their branches operate within the business scope of new product shall, to carry on that business in the 5th report to the local agency of the China Banking Regulatory Commission in writing, including the introduction of new products, risk characteristics, such as internal control systems and procedures. 62nd foreign banking institutions may, in accordance with the relevant provisions in the borrowing of RMB business. 63rd chapter fourth qualification management regulation and referred to in these rules refers to the need for senior managers by the China Banking Regulatory Commission or CBRC approved the qualification of foreign-funded banks, where managers. 64th article served as foreign bank of Director, and senior management personnel and Chief of personnel should is has completely civil capacity of natural, and has following basic conditions: (a) familiar and comply with China legal, and administrative regulations and regulations; (ii) has good of ethics, and conduct, and conduct and reputation, has good of law-abiding collection rules records, no bad records; (three) has University undergraduate above (including university undergraduate) degree, and has and served as positions phase adapted of expertise, and Work experience and management ability; does not have a university degree, there should be a corresponding increase in 6 years finance or 8 years of related working experience (which engage in financial work for more than 4 years), and (d) independence of the duties required. 65th foreign bank directors and senior managers, Chief Representative of the China Banking Regulatory Commission will be or where their qualifications approved by the CBRC cannot perform their duties. 66th article has following case one of of, shall not served as foreign bank of Director, and senior management personnel and Chief: (a) has deliberately or major fault crime records of; (ii) served as or had any for illegal business and was took over, and revoked, and merged, and declared bankruptcy or revoked license of institutions of Director or senior management personnel of, but can proved himself no fault of except; (three) directed, and participation by served institutions block, and against China silver prison will and sent institutions for supervision check or case investigation of ; (Four) violation ethics, and conduct or work serious dereliction of to by served of institutions caused major loss or bad effect of; (five) I or its spouse has amounts larger of debt and due not reimbursement of; (six) legal, and administrative regulations, and sector regulations provides of shall not served as financial institutions Director, and senior management personnel or Chief of; (seven) China silver prison will finds of other case. 67th China Banking Regulatory Commission to approve or cancel foreign banks the following qualifications: (a) the Chairman of foreign-funded banks and Sino-foreign joint venture Bank, President (CEO, General Manager), branches of foreign-funded banks, Sino-foreign joint venture Bank branch President (General Manager), (ii) the head of the branch of a foreign bank (General Manager), and (iii) Chief Representative of Representative Office of a foreign bank. 68th China Banking Regulatory Commission authorized foreign bank banking Board approved the replacement of foreign-owned bank branch President, Sino-foreign joint venture Bank branch President, President of the branch of a foreign bank (General Manager), Chief Representative of the qualifications. 69th article silver prison Council is responsible for approved or canceled this area foreign bank following personnel of served qualification: (a) foreign owned bank, and Sino-foreign joint venture Bank of Director, and Deputy Chairman, and Board Secretary, and Deputy President (Deputy General Manager), and President Assistant, and Chief operation officer, and Chief risk control officer, and Chief Financial Officer (Financial Director, and financial head), and Chief Technology Officer, and within trial head and collection rules head; (ii) foreign owned bank branch, and Sino-foreign joint venture Bank branch of Deputy President (Deputy General Manager) and collection rules head, Branch of a foreign bank's Vice President (Vice President) and head of compliance; (c) the Branch Manager and (iv) other management with decision-making power or play an important role in risk control personnel. 70th in the following positions of the foreign bank directors, senior management and the Chief Representative of each Party shall meet the following requirements: (a) served as Chairman, foreign-funded banks and Sino-foreign joint venture Bank shall have more than 8 years financial work or more than 12 years experience in a related economic (financial for more than 5 years); (b) as foreign-funded banks, Sino-foreign joint venture Bank Vice Chairman, Should has 5 years above financial work or 10 years above related economic work experience (which engaged in financial work 3 years above); (three) served as foreign owned bank, and Sino-foreign joint venture Bank President (CEO, and General Manager), should has 8 years above financial work or 12 years above related economic work experience (which engaged in financial work 4 years above); (four) served as foreign owned bank, and Sino-foreign joint venture Bank Board Secretary, and Deputy President (Deputy General Manager), and President Assistant, and Chief operation officer, and Chief risk control officer, and Chief Financial Officer (Financial Director, and financial head), and Chief Technology Officer, foreign owned bank branch, and Sino-foreign joint venture Bank branch, and foreign bank branch President (General Manager), should has 5 years above financial work or 10 years above related economic work experience (which engaged in financial work 3 years above); (five) served as foreign owned bank, and Sino-foreign joint venture Bank Director, should has 5 years above and economic, and financial, and legal, and financial about of work experience, Can using financial report and statistics report judge Bank of business, and management and risk status, understanding Bank of company governance structure, and company articles, and Board duties and Director of right and obligations; (six) served as foreign owned bank branch, and Sino-foreign joint venture Bank branch, and foreign bank branch Deputy President (Deputy General Manager), branch President, should has 4 years above financial work or 6 years above related economic work experience (which engaged in financial work 2 years above); (seven) served as foreign owned bank, and Sino-foreign joint venture Bank within trial head and collection rules head, should has 4 years above financial work experience; (eight) served as foreign owned bank branch, and Sino-foreign joint venture Bank branch, and foreign bank branch collection rules head, should has 3 years above financial work experience; (nine) served as Foreign Bank representative at Chief, should has 3 years above financial work or 6 years above related economic work experience (which engaged in financial work 1 years above). 71st article foreign bank application approved Director, and senior management personnel and Chief served qualification, should will following application information submitted intends served institutions location silver prison Council (a type two copies), while cc intends served institutions location China silver prison will sent institutions: (a) applicants authorized signed people signed of to China silver prison will of applications, which, by China silver prison will approved of, to China silver prison will President, by Silver prison Council approved of, to about Silver prison Council Secretary, applications in the should description intends any people intends any of positions, and duties , And permission, and the the positions in this institutions organization structure in the of location; (ii) applicants authorized signed people signed of on intends any people of authorized book and the the signed people of authorized book; (three) intends any people ID ming, and degree proved of copies; (four) intends any people resume and future shoe vocational plans of detailed description; (five) by intends any people signed of no bad records statement book and served Hou will law-abiding due diligence of commitment book; (six) foreign owned bank, and Sino-foreign joint venture Bank articles provides should held shareholders will or Board Conference of, Should also submit the corresponding resolution; (VII) other information required by the China Banking Regulatory Commission. 72nd mentioned in the Ordinance or these rules shall be appointed one resume, copies of identification and qualification certificates should be signed by an authorized signatory. 73rd persons to be appointed in the territory of China's banking institutions served as directors, senior management and the Chief Representative, the China Banking Regulatory Commission or approved by the banking regulatory Bureau located in before their qualifications, can seek to be appointed as necessary who worked as the views of local banking regulatory Bureau. People worked as local banking regulatory Bureau to be appointed should provide timely feedback. 74th qualifications for foreign banks to submit application information, the China Banking Regulatory Commission and banking regulatory Bureau, where you can meet with the person to be appointed to Office talk. The 75th Governor of the foreign-funded banking institutions (CEO, General Manager), the Chief Representative of a foreign bank post for 1 month or more shall report in writing to the local agency of the China Banking Regulatory Commission, and assign a person to act in his post without special leave of more than 3 consecutive months shall be replacement candidate. 76th article Foreign Bank Director, and senior management personnel and Chief exists following case one of of, China silver prison will and sent institutions can depending on plot weight, canceled its must term until lifelong of served qualification: (a) was law held criminal of; (ii) refused to, and interference, and block or serious effect China silver prison will and sent institutions law regulatory of; (three) for internal management and control system not sound or implementation supervision poor, caused by served institutions major property loss, Or led to major financial crime case occurred of; (four) for serious illegal violations business, and internal control system not sound or long-term business management poor, caused by served institutions was took over, and merger or was declared bankruptcy of; (five) for long-term business management poor, caused by served institutions serious losses of; (six) on has served of Foreign Bank Director, and senior management personnel, and Chief, China silver prison will as found its served Qian has illegal, and violations or other should not be served as by any positions of; (VII) other circumstances as the China Banking Regulatory Commission will decide. The 77th person qualifications needed to be appointed the China Banking Regulatory Commission approved, where banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents in the 30th, making the decision to approve or not to approve and notify the applicant in writing. Decides not to approve, it shall explain the reasons. Proposed qualifications necessary report approved by the banking regulatory Bureau, where banking Board shall from the date of receiving the complete application documents within 30th approve or not to approve the decision and notify the applicant in writing. Decides not to approve, it shall explain the reasons. Fifth chapter, supervision and management of the 78th foreign banking institutions shall set up its China business development of internal control systems and operational procedures, and, before the end of March of each year, internal control system and operational procedures of amendments submitted to the local agency of the China Banking Regulatory Commission. 79th solely foreign-funded banks and Sino-foreign joint venture banks should set up an independent risk management, compliance management and internal audit department. Branch of a foreign bank shall appoint a special department or personnel in charge of compliance work. 80th foreign banking institution ended after the internal audit shall timely internal audit report submitted to the local agency of the China Banking Regulatory Commission, the local agency of the China Banking Regulatory Commission may adopt appropriate internal audit personnel and foreign banking institutions communicate. 81st foreign banking institutions loan risk classification system should be established, and credit risk classification criteria and classification criteria provided by the CBRC, China submitted correspondence home agency of the China Banking Regulatory Commission. 82nd Ordinance 40th referred to provisions of the asset-liability ratio management refers to the People's Republic of China commercial bank law provisions of 39th. Foreign-funded banks, Sino-foreign joint venture Bank on asset-liability ratio calculation of requirements of the enforcement report index system of banking supervision, in accordance with table diameter and total foreign currency evaluation. 83rd foreign-funded banks, Sino-foreign joint venture Bank shall establish a related-party transaction management system, related party transactions must comply with the commercial principles, terms and conditions shall not exceed those associated with non-trade conditions. China Banking Regulatory Commission and its agencies in accordance with the commercial bank related party transactions the related management regulations on related party and connected transactions were found. The 84th foreign banking institutions should develop policies associated with outsourcing and management systems, including the outsourcing decision-making process, outside of those providing evaluation and management, measures to control banking confidentiality and security of information and contingency plans, and so on. Foreign banking business before the Agency sign outsourcing agreement shall be reported to the local agency of the China Banking Regulatory Commission outsourcing the main risks and the corresponding risk mitigation measures. 85th of the regulations referred to in article 44th foreign bank branches to accrue assets, including foreign currency interest-bearing assets and interest-bearing assets of RMB. Foreign bank branches in the 30% working capital should be held in more than 6 months (including 6 months) as controller of the exchange of foreign currency time deposits interest-bearing assets; working capital 30% of RMB bonds in Renminbi, or more than 6 months (including 6 months) of the Renminbi Yuan deposits as interest-bearing assets. Branch of a foreign bank fixed deposits interest-bearing assets shall be deposited in the territory of China in the form of solid, has a certain strength of 3 or 3 following Chinese commercial banks. Branch of a foreign bank may not in the form of bond pledge repurchase the interest-bearing assets, effects or other interest-bearing assets disposal approach. Branch of a foreign bank shall be respectively in late June and the end of December to the local agency of the China Banking Regulatory Commission reported the existence of interest-bearing assets, including time deposits deposit Bank, amount, term and interest rate, bond amount, form, and expiration date, and so on. Branch of a foreign bank changes interest-bearing assets, fixed-term deposit where the deposit in the Bank shall be subject to approval of the CBRC, China. Without approval of the local agency of the China Banking Regulatory Commission, branch of a foreign bank shall not use interest-bearing assets. The 86th of the regulations article 45th working capital plus reserves, and refers to working capital, undistributed profits and provisions for loan losses, and risk assets are calculated in accordance with the risk-weighted asset requirement table, off-balance sheet risk-weighted assets. The 45th of the percentage provided for in section, calculated according to the branches of foreign banks in China is found, by quarter-end balance of assessment. 87th article foreign bank branch of liquidity assets including cash, and gold, and in people bank deposits, and store peer, and 1 months within due of split put peer, and 1 months within due of take out peer, and outside joint line between and the subsidiary institutions between of assets party net amount, and 1 months within due of should received interest and the other should collection, and 1 months within due of loan, and 1 months within due of bonds investment, and in both at home and abroad II level market Shang can at any time variable now of other bonds investment, and other 1 months within variable now of assets. These assets shall be deducted is expected to be recovered in part. Interest-bearing assets excluding liquid assets. Branches of foreign banks current liabilities include deposits, due within 1 month of regular deposits, inter-bank deposit, due within 1 month of the Inter-Bank, due within 1 month of the borrow, interbank transactions abroad and subsidiaries current liabilities net due within 1 months interest payable and other payables and other liabilities due within 1 month. Freezing of deposits are not included in the current liabilities. Branches of foreign banks should be according to RMB and foreign currency are calculated and maintained the regulations stipulated in the 46th of liquidity ratio, according to the branches of foreign banks in China a single assessment. 88th article Ordinance 47th article by said territory this foreign currency assets balance, and territory this foreign currency liabilities balance according to following method calculation: territory this foreign currency assets balance = this foreign currency assets total-outside joint line between (assets)-outside subsidiary institutions between (assets)-outside loan-store outside peer-split put outside peer-buy outside returned sale assets-outside investment-other outside assets. The following investments are not included in foreign investment: buying in China issued overseas by the Chinese Government bonds, bonds of China's financial institutions and non-financial bonds in China. Internally total foreign currency debt and foreign currency liabilities balance =-interbank transfers abroad (liabilities)-outside of subsidiary body dealings (liabilities)-offshore deposits-outside of inter-bank placements outside-the inter-bank-selling foreign repo payments-other foreign liabilities. 47th article of the Ordinance in accordance with the provisions of the foreign bank branch in China merger appraisal. 89th foreign banking institution shall not be virtual, multiple columns, column less assets, liabilities and owner's equity. 90th section set up in China 2 above and 2 branches of foreign banks, foreign bank or authorized 1 branch, as specified by the regional headquarters management to co-ordinate operations in China management consolidated financial information as well as all the branches in China and information submitted. Foreign Bank regional headquarters shall designate a management or authorized bank responsible for operational management work in China, and specifies compliance Chief responsible for compliance of operations in China. 91st foreign banking institutions shall, in accordance with the provisions of China Banking Regulatory Commission, quarterly cross-border by the end of large capital flows and asset transfers submitted to their local Office of the China Banking Regulatory Commission. 92nd foreign-funded banking institutions by rows or the rows into the credit assets shall be approved by the local agency of the China Banking Regulatory Commission. 93rd article foreign bank branch has following case one of of, should to the branch or management line location China silver prison will sent institutions report: (a) foreign bank branch not distribution profit and this year pure profit and loss of and for negative, and the negative absolute and loan loss prepared yet mention foot part of and over operating funds 30% of, should each quarter late report; (ii) foreign bank branch on all big customer of award letter balance over its operating funds 8 times times of, should each quarter late report, Big customer is refers to award letter balance over foreign bank branch operating funds 10% of customer, the index according to foreign bank in China territory branch season balance merged calculation; (three) foreign bank branch outside joint line and the subsidiary institutions between of assets party balance over outside joint line and the subsidiary institutions between of liabilities party balance and operating funds of and of, should monthly late report, the index according to foreign bank in China territory branch merged calculation; (four) China silver prison will finds of other case. 94th article China silver prison will and sent institutions on foreign bank business sex institutions take of special regulatory measures including following content: (a) appointment about head for police commandments talk; (ii) ordered deadline on about problem submitted written report; (three) on funds outflow outside take limit sex measures; (four) ordered suspended part business or suspended accepted business new business of application; (five) ordered issued guarantee; (six) on about risk regulatory index proposed special requirements; (Seven) requirements keep must proportion of by China silver prison will recognized of assets; (eight) ordered deadline added capital or operating funds; (nine) ordered deadline replaced Director or senior management personnel; (ten) suspended accepted additional institutions of application; (11) on profit distribution and profit meeting out outside take limit sex measures; (12) presence special regulatory personnel, on daily business management for supervision Guide; (13) improve about regulatory report of submitted frequency; (14) other special supervisory measures taken by the China Banking Regulatory Commission. The 95th Foreign Bank business sex institutions should to location China silver prison will sent institutions timely report following major matters: (a) financial status and business activities appeared major problem; (ii) business strategy of major adjustment; (three) except force majeure reasons outside, foreign bank business sex institutions in statutory holiday yiwai of date suspended business 2nd within, should ahead of 7th to location China silver prison will sent institutions written report; (four) foreign owned bank, and Sino-foreign joint venture Bank of important Board resolution; (Five) foreign bank branch of head office, and foreign owned bank or Sino-foreign joint venture Bank shareholders of articles, and registered capital and registered address of change; (six) foreign bank branch of head office, and foreign owned bank or Sino-foreign joint venture Bank shareholders of merged, and Division, restructuring matters and Chairman or President (CEO, and General Manager) of change; (seven) foreign bank branch of head office, and foreign owned bank or Sino-foreign joint venture Bank shareholders of financial status and business activities appeared major problem; (VIII) the Head Office of the branch of a foreign bank, wholly foreign-owned bank or Chinese-foreign joint venture Bank shareholders significant cases; (IX) foreign bank branches, Head Office and wholly foreign-owned bank or Chinese-foreign joint venture Bank foreign shareholder's home country or region and other overseas branches from countries or regions financial regulators impose significant regulatory measures; (x) foreign bank branches, Head Office, Wholly foreign-funded Bank or Chinese-foreign joint venture Bank foreign shareholder countries or significant changes in the financial regulation and the financial regulation system and (11) other matters in the report of the China Banking Regulatory Commission requirements. 96th article Foreign Bank representative at should timely to location China silver prison will sent institutions report its by representative of foreign bank occurred of following major matters: (a) articles, and registered capital or registered address change; (ii) foreign bank of merged, and Division, restructuring matters and Chairman or President (CEO, and General Manager) change; (three) financial status or business activities appeared major problem; (four) occurred major case; (E) the country or region where financial regulators impose significant regulatory measures (f) other matters of foreign bank operations have a significant impact. 97th non-agency employees in China by foreign banks, in the Agency's work for more than 20th today in 90 days or more than 30th, foreign banks should report to the local agency of the China Banking Regulatory Commission. 98th article foreign owned bank, and Sino-foreign joint venture Bank and in China territory established 2 home and the 2 home above branch of foreign bank, should in each fiscal year end Hou hired in China territory law established of qualified of Accountants firm on the institutions in China territory all business sex institutions for and table or merged audit, and in fiscal year end Hou 4 months within will audit report and management proposal submitted foreign owned bank, and Sino-foreign joint venture Bank head office or management line location China silver prison will sent institutions. Branches of foreign banks should be employed after the end of each fiscal year within the territory of China shall be a duly qualified firm of public accountants audit within 4 months after the end of the fiscal year and the audit report and management of proposals submitted to the local agency of the China Banking Regulatory Commission. 99th foreign banks operating agencies within the territory of China shall be a duly qualified firm of public accountants annual or other project audits 1 month ago, and their participation in the audit of the accounting firms CPA should be basic information submitting local agency of the China Banking Regulatory Commission. 100th foreign-funded banks, Sino-foreign joint venture Bank's annual audits should include the following: capital adequacy, asset quality, corporate governance, internal control, profitability, liquidity and market risk management, and so on. Annual audit of the branch of a foreign bank shall include the following: financial reporting, risk management, operational control, compliance management, and asset quality, and so on. 101th China Banking Regulatory Commission and its agencies when necessary to specify accounting firm on foreign banking institutions operating conditions, financial status, risk status, internal control system and the implementation of audits. 102th CBRC and its local agencies can ask foreign-funded banking institutions replace the expertise and independence of CPA firm does not meet regulatory requirements. 103th solely foreign-funded banks, Sino-foreign joint venture Bank shall, within 6 months after the end of the fiscal year the headquarters seat of the China Banking Regulatory Commission agency submitted to the foreign-funded banks and their shareholders, annual reports of Sino-foreign joint venture banks and their shareholders. Foreign bank branches and representative offices of foreign banks should be in the place where its head office within 6 months of the end of the fiscal year submitted its head office of the CBRC, China's annual report. 104th Foreign Bank representative office, shall, before the end of February of each year in accordance with the form required by the CBRC, China submitted to the local agency of the China Banking Regulatory Commission on the annual work report and work plan of the year. 105th foreign banks representative office shall have a separate office space, office facilities and specialized staff. The 106th Foreign Bank representative office shall have a reasonable number of staff, staff positions should be consistent with Office duties. 107th Representative Office of a foreign bank shall set up account books, truly reflect the financial position, its costs and expenses should be in accordance with Office duties. Foreign Bank representative offices are not allowed to use other accounts of the enterprise, organization or individual. 108th Representative Office of a foreign bank shall not, in its computer systems used in business processing system that is incompatible with Office job. The 109th article of the rules requires submitting information, in addition to an annual report, where written in foreign language, shall be accompanied by a Chinese translation. Foreign banking institutions ' internal control systems, business rules, business document samples should be accompanied by a Chinese translation; other business archives and archives related files such as regulators considered necessary, and shall be accompanied by a Chinese translation. Under special circumstances, the China Banking Regulatory Commission and its agencies could request the relevant Chinese translation by the branch of a foreign bank head office, wholly foreign-funded Bank or Chinese-foreign joint venture Bank's foreign shareholders are national or regional institutions recognized by the notary, and the Chinese embassies or consulates in the country. Sixth chapter terminated and liquidation 110th article Ordinance 58th article by said itself terminated including following case: (a) foreign owned bank, and Sino-foreign joint venture Bank articles provides of business term expires or articles provides of other dissolved causes appeared of; (ii) foreign owned bank, and Sino-foreign joint venture Bank shareholders will or Board decided dissolved of; (three) foreign owned bank, and Sino-foreign joint venture Bank for merged or Division need dissolved of; (four) foreign bank, and foreign owned bank, and Sino-foreign joint venture bank closing branch in China. 111th article foreign owned bank, and Sino-foreign joint venture Bank application itself dissolved of, should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) shareholders will or Board resolution; (three) shareholders parties Chairman or President (CEO, and General Manager) signed of agreed the institutions itself dissolved of confirmed letter; (D) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision to disband, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 112th article foreign bank, and foreign owned bank or Sino-foreign joint venture Bank application close in China territory branch, should will following application information submitted the branch location silver prison Council (a type two copies), while cc foreign owned bank, and Sino-foreign joint venture Bank head office location silver prison Council and the branch location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) foreign owned bank, and Resolutions of the Board of Sino-foreign joint venture banks, and (iii) the country or region where the foreign bank's financial supervision authorities ' submissions on the application and (iv) other information required by the China Banking Regulatory Commission. The CBRC branch is located shall, from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision to close, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 113th since the China Banking Regulatory Commission approved solely foreign-funded banks, Sino-foreign joint venture Bank dissolved itself or foreign banks, foreign-funded banks, Sino-foreign joint venture Bank's decision to close the branch in China from the date of entry into force, been dissolved, closed institutions should be approved by immediate cessation of business activities, return a financial license, and set up a group in the 15th. 114th liquidation group members including the Governor (General Manager), accounting manager, CPA, as well as other personnel designated by the China Banking Regulatory Commission. Foreign-funded banks, Sino-foreign joint venture bank liquidation group should also include representatives of the shareholders and Chairman of the Board. Members of the liquidating Committee shall be reported to the local agency of the China Banking Regulatory Commission agreed. 115th liquidation group shall notify the administration of industry and commerce, taxation, labor and social security departments and other departments concerned. 116th solely foreign-funded banks, Sino-foreign joint venture Bank to dissolve or solely foreign-funded banks, Sino-foreign joint venture banks and foreign bank closed its branch in China involving the liquidation in accordance with the People's Republic of China company law provisions. The 117th was disbanded or close business institutions and their branches of foreign banks agencies responsible for oversight of the CBRC, China, where dissolution and liquidation procedures, and progressive report on important matters and the liquidation to the China Banking Regulatory Commission. 118th liquidation group should be set up within 30th of hire shall be a duly qualified firm of public accountants in China audited since hiring location within 60 days from the date of institution of the CBRC, China submitted to the audit report. 119th dismissal or closing liquidation process involves examination and approval of foreign exchange matters, should be approved by the State administration of foreign exchange and its branches. 120th in the process of liquidating debts shall be payment of liquidation expenses, wages and labor insurance premium after, first pay the principal and interest of the individual depositors. 121th liquidation group shall, before the 10th of each month to the local agency of the China Banking Regulatory Commission to submit relevant debt settlement, disposition of assets, loan recovery, account of the report. 122th is clearing all debts after the liquidation group applications for extraction of interest-bearing assets, it should be to the local agency of the China Banking Regulatory Commission shall submit the following application materials, the local agency of the China Banking Regulatory Commission for approval: (a) the application signed by the head of the liquidation, (ii) report on the liquidation, and (iii) other information required by the China Banking Regulatory Commission. 123th after the end of the liquidation, the liquidation team shall make a liquidation report, submitted to the local agency of the China Banking Regulatory Commission confirmed and submitted to the industrial and commercial administration authorities apply for cancellation of the registration, the China Banking Regulatory Commission to be appointed by the national newspapers and the Agency of the China Banking Regulatory Commission, where the local newspaper announcement specified. The liquidating Committee shall notice contents in the 3rd seat of the written report to the local Office of the China Banking Regulatory Commission. 124th liquidation accounting records and business information in accordance with the relevant provisions. 125th since the branch of a foreign bank within 2 years from the date of completion of liquidation, the China Banking Regulatory Commission and its agencies not to entertain the foreign banks operating in the same city in China to set up the application. 126th article foreign bank application close in China territory of branch and proposed in same city established representative at of, should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) foreign bank authorized signed people signed of on intends any Chief of authorized book; (three) intends any Chief resume; (D) the identity of the representative to be appointed, and copies of degree certificates; (e) signed by the representative to be appointed no adverse record statement; (f) other information required by the China Banking Regulatory Commission. Home Banking Board shall from the date of receiving the complete application documents application information, together with an audit opinion report within the 20th China Banking Regulatory Commission. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision to close branches and a representative office in the same city, and notify the applicant in writing. Decided not to grant, and shall state the reasons. The 127th foreign-funded banks, Sino-foreign joint venture Bank shall have illegal operations, bad management and other circumstances, shall not be annulled would seriously jeopardize the financial order and harm the public interest, by the China Banking Regulatory Commission in accordance with the provisions of the financial institutions under which revocation. China Banking Regulatory Commission ordered to close branches of foreign banks, in accordance with the People's Republic of China company law provisions. 128th foreign-funded banks and Sino-foreign joint venture banks due to dissolution and liquidation, the liquidation group after clearing the property, draw up a balance sheet and a schedule of assets, found insufficient to repay the debt of foreign-funded banks, Sino-foreign joint venture Bank property, by the China Banking Regulatory Commission agreed, shall immediately apply to the peoples Court declares bankruptcy. Foreign-funded banks, Sino-foreign joint venture Bank by the Court after declaring bankruptcy, the liquidating Committee shall transfer the liquidating Affairs to the people's Court. 129th article foreign bank business sex institutions according to Ordinance 59th article of provides application resumption of of, should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) applicants Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) foreign owned bank, and Sino-foreign joint venture Bank of Board resolution; (three) China silver prison will requirements of other information. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or not to approve resumption of business decisions, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 130th restructuring of foreign bank branches in China by the foreign-owned banks funded by its head office separate, original branch of a foreign bank shall return after the foreign-owned banks to the financial license, and to the industrial and commercial administration authorities for the cancellation of registration under the law. 131th article foreign bank application close in China territory representative at of, should will following application information submitted location silver prison Council (a type two copies), while CC location China silver prison will sent institutions: (a) foreign bank Chairman or President (CEO, and General Manager) signed of to China silver prison will President of applications; (ii) China silver prison will requirements of other information. Home Banking Board shall from the date of receiving the complete application documents within the 20th the application data together with comments submitted to the CBRC. China Banking Regulatory Commission shall be from the date of receiving the complete application documents within 3 months to approve or disapprove the decision to close, and notify the applicant in writing. Decided not to grant, and shall state the reasons. 132th approved closing of representative office shall in accordance with the law for cancellation after registration in the 15th, at the China Banking Regulatory Commission to be appointed by the national newspapers and location specified by the Agency of the China Banking Regulatory Commission on the local newspaper notices and announcements submitted to the local agency of the China Banking Regulatory Commission. Seventh chapter supplementary articles article 133th foreign banks violate this rule, China Banking Regulatory Commission in accordance with the regulations and other provisions to be punished. 134th these rules come into force on December 11, 2006. From the date of implementation of this rule, announced by the China Banking Regulatory Commission on July 26, 2004 the People's Republic of China implementing rules for the regulations of foreign financial institutions at the same time abolish.

Related Laws