The People’s Bank of China Relevant Provisions Governing the Accounting Treatment as Contained in Rules for the Implementation of the Businesses of Foreign Exchange the People’s Bank of China June 18, 1996 These Provisions concerning the issues related to the opening of separate-purpose RMB accounts by the foreign banks operating in the l. The special RMB accounts for foreign exchange settlement and sale by foreign banks shall be set up under Heading 0109 for Foreign 2. When opening the special RMB accounts for the settlement and sale of foreign exchange by foreign banks, the People’s Bank of China 3. The interest on the deposits of foreign banks in their special RMB accounts for foreign exchange settlement and sale shall be paid 4. The exchange of financial instruments within the same city which the People’s Bank of China organizes for foreign banks shall be handled 5. The attached overleaf is the format of the RMB Special Vouchers that foreign banks shall use for foreign exchange settlement and sale. |
The People’s Bank of China
1996-06-18