RMB Agency Settlement
RMB Purchase/Sale
- RMB Account Financing
- Agency Bond Trading
- RQFII Custody
- Services provided by RMB Clearing Bank in Seoul
Service Descriptions
BOCOM handles cross-border RMB settlement for overseas participating banks that have opened cross-border RMB vostro accounts with BOCOM by right of its internal clearing system and connection to the system of central bank and regulatory bodies.
BOCOM accepts RMB payment instruction from overseas participating banks, and handles cross- border RMB fund transfers for them. BOCOM sends bank statement, fee and interest statement to overseas banks and provides RMB value-add services such as RMB cash management.
Service Features
Advanced cross-border RMB clearing system and professional account service team
Cross-border RMB clearing channels cover 26 countries and regions across the world
Extensive account relationships with large amount of overseas banks, which helps to improve book transfer ratio and clearing efciency and reduce clearing costs
Supported by RMB financing demand under basic contract or bills in foreign currency
Targeted ClientsService Procedures- Sign agent RMB Settlement Agreement;
- Submit registration document in the country or region or certificate of approval for incorporation by regulatory body in the country the bank is located in, valid ID of legal representative or nominated signa-tory and account opening request by SWIFT message.
- Receive payment instructions via SWIFT.
Service DescriptionsBy cross-border RMB purchase/sale, BOCOM, as domestic correspondent bank for RMB settlement in cross-border trade, handles foreign exchange transactions under trade settlement for overseas participating banks that have opened RMB vostro accounts, to meet their temporary needs for trade and account positions. Cross-border RMB purchase/sale business provided by BOCOM covers USD, EURO, JPY, HKD and other main foreign currencies in the international market.
Service Features
Provide RMB position management channels
Enjoy the price of domestic RMB purchase/sale
Targeted ClientsOverseas participating banks that have opened RMB
vostro accounts with BOCOM;
Banks that have established foreign exchange transaction counterparty relationship with BOCOM and have obtained interbank credit line from BOCOM.
Service Procedures- Deals are concluded via REUTERS DEALING device. The two parties confirm payment and receipt at the back end. Overseas participating banks settle cross-border RMB purchase/sale through the RMB vostro accounts
Service DescriptionsBy cross-border RMB account financing, overseas participating banks that have opened RMB vostro accounts with BOCOM are provided with RMB account financing services to meet their temporary needs for account positions.
Service Features
Provide RMB financing channels
Provide T+0 fund transfer service
Targeted ClientsOverseas participating banks that have opened RMB vostro accounts with BOCOM;
Overseas participating banks that have obtained account financing credit line from BOCOM.
Service Procedures- Deals are concluded via REUTERS DEALING device. Overseas participating banks settle cross-border account financing through the RMB vostro accounts opened with BOCOM.
Service DescriptionsBOCOM opens RMB special account for overseas central banks or monetary authorities eligible to invest in the interbank RMB bond market, and for RMB clearing banks in Hong Kong and Macao and overseas banks participating in RMB settlement in cross-border trade, to be used exclusively in clearing of fund in RMB bond trading.
By agency bond trading, BOCOM provides bond trading services in the domestic interbank market on behalf of eligible overseas institutions, including inquiry, negotiation and conclusion of deals with other market players.
Service Features
Participate in the interbank market indirectly and share the benefits from the rapid growth of he Chinese bond market
large amount of investment targets, and strong bargaining power
Directly linked trading, and convenient channels
Exclusive management of account and safety of capital
Targeted ClientsService ProceduresBOCOM will assist overseas institutions to present documents required for opening account to relevant bond depository and trade center and handle agency bond trading after account is opened. Institutions to open account with include:
China Government Securities Depository Trust &
Clearing Co. Ltd. Shanghai Clearing House National Interbank Funding Center
Documents required for opening account include:
Written permission from People's Bank of China to overseas institutions' entry into the interbank bond market;
Registration document in the country or region or certificate of approval for incorporation by regula-tory body in the country (region) the overseas institution is located in;
Agent settlement agreement signed by the two parties. A copy of ID Card of the authorized signatory/operator;
Other materials required by institutions to open account with.
Service DescriptionsBOCOM provides RMB custody services for three types of institutional customers (including overseas central banks or monetary authorities, RMB clearing banks in Hong Kong and Macao, overseas banks participating in RMB settlement in cross-border trade and overseas insurance companies), helping them to invest in the interbank RMB bond market.
BOCOM provides for RMB qualified foreign institu-tional investors with services including application for quota, opening account, accounting valuation, fund settlement and investment monitoring and reporting.
Service Features
Provide professional and highly efcient escrow and operation services by right of extensive service experience
Guarantee steady and safe operation of products and protect the interests of investors
Balance and control all risks efectively and provide and coordinate solutions
Targeted ClientsService ProceduresSign Custody Agreement with BOCOM, and submit Letter of Authorization for custody.
Service DescriptionsOn July 4th, 2014, BoCom Seoul branch was author-ized by PBOC to be Seoul's RMB clearing bank, which can provide clearing and settlement service to participating banks.
BOCOM Seoul branch could provide the following services to participating banks: RMB account service, RMB clearing service, Cross-border RMB buy and sell, RMB interbank lending, RMB bank note service, and RMB fixed deposit.
Service Features
With efcient banking system, the branch could provide local, cross-border and ofshore RMB clearing service to participating banks.
With its head ofce's strong RMB liquidity, the branch could provide funding for participating banks.
Based on PBOC's authorization, the branch could provide diversified RMB services, such as account, clearing, global market, etc.
Targeted ClientsService Procedures- To sign RMB clearing and settlement agreement, apply for account opening, and open RMB clearing and settlement account with the branch.