China Securities Regulatory Commission, Circular on Issues Relevant to Investment in Bank Deposits by Money Market Funds

中国证监会基金监管部关于货币市场基金投资银行存款有关问题的通知

January 31, 2006 | BY

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Issued: November 21 2005Effective: as of date of issueMain contents: Money market funds may invest in cash, notice deposits and deposits with a term of…

Clp Reference: 3700/05.11.21 Promulgated: 2005-11-21 Effective: 2005-11-21

Issued: November 21 2005
Effective: as of date of issue

Main contents: Money market funds may invest in cash, notice deposits and deposits with a term of one year or less (Article 1). Depositing banks of money market funds shall be commercial banks qualified as securities investment fund custodians or qualified foreign institutional investor custodians, or qualified to engage in securities investment fund agency business (Article 2). The proportion of money market funds invested in fixed deposits may not exceed the net assets of the fund by 30% (Article 3).
Related legislation: PRC Securities Investment Fund Law, Oct 28 2003, CLP 2003 No.10 p.43;Measures for Administration of Securities Investment Fund Operations, Jun 29 2004, CLP 2004 No.10 p.63 and Tentative Provisions for Administration of Money Market Funds, Aug 16 2004, CLP 2004 No.8 p.71

clp reference:3700/05.11.21promulgated:2005-11-21effective:2005-11-21

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