People's Bank of China, Questions Relevant to Further Strengthening and Improving Cash Management Circular
中国人民银行关于进一步加强和改进现金管理有关问题的通知
July 02, 2001 | BY
clpstaff &clp articles &Issued: 10 April 2001 Main contents: The Circular was issued on concerns over increasing irregularities in cash transactions such as large amounts of cash…
Issued: 10 April 2001
Main contents: The Circular was issued on concerns over increasing irregularities in cash transactions such as large amounts of cash withdrawals. According to the Circular, the focus of cash management shall be gradually shifted to the prevention of cash-related criminal activities and the mitigation of cash settlement risks (Item 1). Banks must comply with the Administration of Large Cash Payments Circular and Registration and Record Filing of Large Cash Payments Provisions issued by the People's Bank of China in 1997 (Item 2). The issue and circulation of "cash coupons" is strictly prohibited, as such coupons are cash equivalents (Item 3). Each of the branches of the People's Bank of China and commercial banks shall conduct a review of its cash management and submit a review report to the People's Bank of China by the end of May (Item 4).
Related legislation: People's Bank of China, Management of Large Cash Payments Circular, 1997 and People's Bank of China, Registration and Record Filing of Large Cash Payments Provisions, 1997
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