· Document Number：No. 86 [2015] of the China Central Depository & Clearing Co., Ltd.

· Area of Law： Banking & Finance

· Level of Authority： Industry Regulations

· Date issued：09-25-2015

· Effective Date：09-25-2015

· Status： Effective

· Issuing Authority： China Government Securities Depository Trust & Clearing Co., Ltd. China Foreign Exchange Trading Center & National Interbank Funding Center Shanghai Clearing House

Notice of the China Central Depository & Clearing Co., Ltd., the National Interbank Funding Center and the Interbank Market Clearing House Co., Ltd. on Issuing the Guidelines for Networking and Account Opening by Relevant Foreign Institutional Investors in the Interbank Market
(No. 86 [2015] of the China Central Depository & Clearing Co., Ltd.)
All interbank market clearing agents and relevant foreign institutional investors:
In order to implement the requirements of the Notice of the People's Bank of China on Matters concerning the RMB Investment in the Interbank Market by Foreign Central Banks, International Financial Organizations and Sovereign Wealth Funds (No. 220 [2015], PBC), and effectively providing services in respect of account opening and networking, among others, for relevant foreign institutional investors in the interbank bond market, the China Central Depository & Clearing Co., Ltd., the National Interbank Funding Center, and the Interbank Market Clearing House Co., Ltd. jointly developed the Guidelines for Networking and Account Opening by Relevant Foreign Institutional Investors in the Interbank Market (see the Annex), which have been approved by the People's Bank of China. The Guidelines are hereby issued and shall come into the force on the day of issuance.

Annex: Guidelines for Networking and Account Opening by Relevant Foreign Institutional Investors in the Interbank Market
China Central Depository & Clearing Co., Ltd.
National Interbank Funding Center
Interbank Market Clearing House Co., Ltd.
September 25, 2015
Annex:
Guidelines for Networking and Account Opening by Relevant Foreign Institutional Investors in the Interbank Market
Article 1 For the purpose of specifying the procedures for networking and account opening by relevant foreign institutional investors in the interbank bond market, these Guidelines are developed in accordance with the relevant requirements of the Notice of the People's Bank of China on Matters concerning the RMB Investment in the Interbank Market by Foreign Central Banks, International Financial Organizations and Sovereign Wealth Funds (No. 220 [2015], PBC) and upon approval by the Financial Market Department of the People's Bank of China (“PBC”).
Article 2 These Guidelines shall apply to foreign central banks or monetary authorities, international financial organizations and sovereign wealth funds that enter the interbank bond market.
Article 3 Relevant foreign institutional investors that entrust the PBC with trading and settlement shall undergo the networking or account opening formalities in accordance with the relevant requirements of the PBC.
Article 4 Where relevant foreign institutional investors entrust settlement agents in the interbank market with trading and settlement, the settlement agents shall file written applications for networking or account opening with the National Interbank Funding Center (“NIFC”), the China Central Depository & Clearing Co., Ltd. (“CCDC”) and the Interbank Market Clearing House Co., Ltd. (hereinafter referred to as “Shanghai Clearing House”) respectively.
Article 5 The following materials shall be submitted for the application for networking or account opening:
(1) The Business Application Form of Relevant Foreign Institutional Investors (see Annex).
(2) The signature pages of the business agreements required for account opening.
The standard texts of business agreements in relation to account opening shall be published by the CCDC and the Shanghai Clearing House on their respective websites.
Article 6 The NIFC, the CCDC and the Shanghai Clearing House shall accept and handle an application upon receipt of the application materials for networking or account opening sent by a settlement agent. They shall complete networking or account opening formalities within three working days if the application materials are complete and inerrant, and shall inform the settlement agent of all the problems of the application materials at one time if the materials are incomplete.
Article 7 In the case of any change in the content of the aforesaid materials, a settlement agent shall, within ten working days, apply for modification to the NIFC, the CCDC and the Shanghai Clearing House.
Article 8 These Guidelines shall be subject to interpretation and revision by the NIFC, the CCDC and the Shanghai Clearing House.
Article 9 These Guidelines shall come into force on the date of issuance.
Annex: Business Application Form of Relevant Foreign Institutional Investors