State Administration of Foreign Exchange, Circular on Issues Relevant to the Determination of Short-term Foreign Debt Quotas of Domestic Institutions for the Year 2011

国家外汇管理局关于核定2011年度境内机构短期外债余额指标有关问题的通知

May 04, 2011 | BY

clpstaff &clp articles &

Safe reduces short-term foreign debt quotas again.

Clp Reference: 3510/11.03.30 Promulgated: 2011-03-30

Issued: March 30 2011

Main contents: The Circular states that the short-term foreign debt quota for certain foreign-invested banks with legal personality and branches of foreign-invested banks that are subject to centralised quota administration is determined to be US$14.62509 billion. The regional quota for Chinese-invested and foreign-invested banks with legal personality within the jurisdiction of a foreign exchange branch or office, branches of foreign-invested banks that have not been subject to centralised quota administration, and Chinese-invested enterprises is determined to be US$7.60780 billion (Article 1).

All types of short-term liabilities owed to external parties by financial institutions shall be subject to quota administration except in the following circumstances:

(1) accepted outstanding usance letters of credit with a term of 90 days or less and overseas advance payments with a term of 90 days or less;

(2) deposits of non-resident individuals of US$500,000 or less at the same bank with legal personality; and

(3) balances of all types of designated accounts for foreign investors opened in the name of non-residents as checked and approved by the State Administration of Foreign Exchange (Article 3). clp reference:3510/11.03.30promulgated:2011-03-30

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