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1 thought on “wholesale prom jewelry sets How do commercial banks conduct RMB cross -border liquidation? What are the clearing channels to choose from?”
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acrylic wholesale jewelry Commercial banks can liquidate and settle cross -border RMB funds through the following three channels: First, the liquidation bank model. With the recognition of the People's Bank of China and the Hong Kong and Macau Financial Administration, the RMB business liquidation bank of Hong Kong and Macao is the BOC Hong Kong and Bank of China Macau Branch. The payment system conveys the liquidation information with the domestic bank and conducts cross -border RMB funds for clearing and settlement of domestic banks through its open RMB settlement account. Crossing the bank through the Hong Kong and Macao RMB clearing banks overseas to complete the final liquidation of the RMB business. Hong Kong and Macao RMB clearing banks can enter the inter -bank foreign exchange market for RMB transactions. It can also use the national inter -bank interbank market to demolish and demolish funds. The balance at the end of last year must not exceed 3 months. The second is the proxy mode. The overseas RMB business participates in the domestic agency bank to open a liquidation account (that is, the RMB interbank account). When cross -border funds are cleared through the agency model, the overseas participating banks first pass the funds to the domestic agency bank through the SWIFT system. Domestic agency banks pass the People's Bank of China cross -bank payment system or in -line clearing system agent to participate in the banking of banks to apply for funds. The domestic agency bank borrows a loan of the RMB interbank account and completes the fund settlement between the banks and participates in the bank. The domestic agency bank has the funding requirements for the account setting of the banks opened by the banks abroad, and provides the bottom fund redeeming services for overseas participating banks. In the limited amount determined by the People's Bank of China to participate in the bank's purchase and selling RMB overseas, the People's Bank of China implements the cumulative two -way management of the annual renminbi purchase and sale date of the annual renminbi purchase and sale business. Domestic agency banks can provide RMB account financing for overseas participants who have a RMB industry account for their accounts to meet the temporary needs of the account position. The total balance of domestic agency banks to participate in banks abroad shall not exceed its various deposits of RMB for various deposits. At the end of last year, the balance period must not exceed 1 month. The third is the non -resident account (NRA) model. With the approval of the local branch of the People's Bank of China, foreign companies can apply for a non -resident bank settlement account in domestic banks, and directly clearly clear and settle the RMB funds through the domestic bank's intra -bank clearing system and the People's Bank of China cross -bank payment system. The non -resident account is a current deposit account. The account shall not be used to handle cash business. If it is needed, it must be approved by the People's Bank of China. It is not allowed to convert the funds in the account to foreign currency use, except for clearly specified.