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RMB Deposit for Non-Settlement Purpose (Due to Banks)

I. Overview
RMB Deposits for Non-settlement Purpose (Due to Banks) means that the customer enters into an agreement with counterparty that deposits non-settlement funds in a general account with a banking institution and the counterparty issues a deposit confirmation letter (or certificate of deposit).

II. Target Customers
Foreign banks within China and their authorized subsidiaries qualified for RMB deposit business.

III. Features and Advantages
i. The deposit interest rate and deposit term can be determined by both parties through negotiation, a flexible and efficient way to achieve mutual benefit;
ii. With large amount of funds being involved, the demand of counterparty for funds can be satisfied;
iii. Simple and efficient way for financial institutions to access funds.

V. Required Documents
i. Electronic scanning copy of power of attorney on deposit, business license and financial service certificate of counterparty (required for the first application);
ii. Application form of outside account opening/closing;
iii. Low-risk commitment letter signed by the general manager of handling branch (required for non-local application);
iv. Application form of outside account opening/closing;
v. Master agreement and the Approval Letter of ICBC Bills Discounting Department for RMB Deposits for Non-settlement Purpose (Due to Banks);
vi. Other documents required by the ICBC Bills Discounting Department and branches.

Note: The information provided on this page is for reference only. Concrete business shall be subject to the announcement and provisions of the local outlet.

Corporate Finance