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Circular of the State Administration of Foreign Exchange on Relevant Issues concerning the Domestic Interbank Foreign Exchange Borrowing (Lending) Business Undertaken by Insurance Companies [Expired]
国家外汇管理局关于保险公司开办境内外汇同业拆借业务有关问题的通知 [失效]
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Circular of the State Administration of Foreign Exchange on Relevant Issues concerning the Domestic Interbank Foreign Exchange Borrowing (Lending) Business Undertaken by Insurance Companies
(No.105 [2003] of the State Administration of Foreign Exchange September 1, 2003)
The branches/ departments of the State Administration of Foreign Exchange in all provinces, autonomous regions, and municipalities directly under the Central Government, and in Dalian, Qingdao, Xiamen, Shenzhen, Ningbo; all insurance companies; all insurance capital management companies; and China Foreign Exchange Trading Center,
In order to boost up the fluidity of the foreign exchange capitals of the insurance companies, and improve the solvency of foreign exchange of the insurance companies, the State Administration of Foreign Exchange decides, after negotiation with the China Insurance Regulatory Commission, to allow the insurance companies to engage in domestic interbank foreign exchange borrowing (lending) business. We hereby make the following notice on relevant issues:
 

国家外汇管理局关于保险公司开办境内外汇同业拆借业务有关问题的通知
(2003年9月1日 汇发[2003]105号)


国家外汇管理局各省、自治区、直辖市分局,外汇管理部,大连、青岛、厦门、深圳、宁波市分局;各保险公司;各保险资产管理公司;中国外汇交易中心:
为增强保险公司外汇资金的流动性,提高保险公司外汇偿付能力,经商中国保险监督管理委员会,国家外汇管理局决定允许保险公司开办境内外汇同业拆借业务。现就有关问题通知如下:
I.The parent companies of Chinese-funded insurance companies, parent companies of Sino-foreign equity joint venture insurance companies, and the branch companies (hereinafter refer to as insurance companies) set up directly by foreign insurance companies within China, which have the qualifications for undertaking the “interbank foreign exchange borrowing (lending)” business after being approved by the State Administration of Foreign Exchange, may carry out domestic interbank foreign exchange borrowing(lending) business through the China Foreign Exchange Trading Center. Other domestic insurance companies (including the branches of the above said insurance companies) are prohibited from engaging in interbank foreign exchange borrowing (lending) activities.
   一、经国家外汇管理局核准具有“外汇同业拆借”业务经营资格的境内中资保险公司总公司、中外合资保险公司总公司和外国保险公司直接在境内设立的分公司(以下简称保险公司),可以通过中国外汇交易中心进行境内外汇同业拆借。其他的境内保险公司(包括上述保险公司在境内的分支机构)不得从事外汇拆借活动。
II.An insurance company shall participate in domestic interbank foreign exchange borrowing (lending) activities through the China Foreign Exchange Trading Center, the opposite party of the interbank borrowing (lending) shall be domestic financial institutions that have signed contracts with the China Foreign Exchange Trading Center. An insurance company is refrained from carrying out interbank foreign exchange borrowing (lending) activities with foreign institutions.
......
   二、保险公司参与境内外汇同业拆借必须通过中国外汇交易中心进行,拆借对手应为与中国外汇交易中心签约的境内金融机构。保险公司不得与境外机构开展外汇拆借活动。 
......



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