Service Descriptions

BOCOM handles cross-border RMB settlement for overseas participating banks that have opened cross-border RMB vostro accounts with BOCOM by right of its internal clearing system and connection to the system of central bank and regulatory bodies.

BOCOM accepts RMB payment instruction from overseas participating banks, and handles cross- border RMB fund transfers for them. BOCOM sends bank statement, fee and interest statement to overseas banks and provides RMB value-add services such as RMB cash management.

Service Features

Advanced cross-border RMB clearing system and professional account service team

Cross-border RMB clearing channels cover 26 countries and regions across the world

Extensive account relationships with large amount of overseas banks, which helps to improve book transfer ratio and clearing efciency and reduce clearing costs

Supported by RMB financing demand under basic contract or bills in foreign currency

Targeted Clients
Overseas participating banks that have opened cross-border RMB vostro accounts with BOCOM.
Service Procedures
  • Sign agent RMB Settlement Agreement;
  • Submit registration document in the country or region or certificate of approval for incorporation by regulatory body in the country the bank is located in, valid ID of legal representative or nominated signa-tory and account opening request by SWIFT message.
  • Receive payment instructions via SWIFT.
     
Service Descriptions

By cross-border RMB purchase/sale, BOCOM, as domestic correspondent bank for RMB settlement in cross-border trade, handles foreign exchange transactions under trade settlement for overseas participating banks that have opened RMB vostro accounts, to meet their temporary needs for trade and account positions. Cross-border RMB purchase/sale business provided by BOCOM covers USD, EURO, JPY, HKD and other main foreign currencies in the international market.

Service Features

Provide RMB position management channels

Enjoy the price of domestic RMB purchase/sale

Targeted Clients

Overseas participating banks that have opened RMB vostro accounts with BOCOM;

Banks that have established foreign exchange transaction counterparty relationship with BOCOM and have obtained interbank credit line from BOCOM.

Service Procedures
  • Deals are concluded via REUTERS DEALING device. The two parties confirm payment and receipt at the back end. Overseas participating banks settle cross-border RMB purchase/sale through the RMB vostro accounts
 
Service Descriptions

By cross-border RMB account financing, overseas participating banks that have opened RMB vostro accounts with BOCOM are provided with RMB account financing services to meet their temporary needs for account positions.

Service Features

Provide RMB financing channels

Provide T+0 fund transfer service

Targeted Clients

Overseas participating banks that have opened RMB vostro accounts with BOCOM;

Overseas participating banks that have obtained account financing credit line from BOCOM.

Service Procedures
  • Deals are concluded via REUTERS DEALING device. Overseas participating banks settle cross-border account financing through the RMB vostro accounts opened with BOCOM.
 
Service Descriptions

BOCOM opens RMB special account for overseas central banks or monetary authorities eligible to invest in the interbank RMB bond market, and for RMB clearing banks in Hong Kong and Macao and overseas banks participating in RMB settlement in cross-border trade, to be used exclusively in clearing of fund in RMB bond trading.

By agency bond trading, BOCOM provides bond trading services in the domestic interbank market on behalf of eligible overseas institutions, including inquiry, negotiation and conclusion of deals with other market players.

Service Features

Participate in the interbank market indirectly and share the benefits from the rapid growth of he Chinese bond market

large amount of investment targets, and strong bargaining power

Directly linked trading, and convenient channels

Exclusive management of account and safety of capital

Targeted Clients
Overseas institutions with the permission of People's Bank of China to enter the interbank bond market, including three types of overseas institutions (overseas central banks, RMB clearing banks in Hong Kong and Macao and overseas participating banks), RQFII pilot institutions and insurance companies.
Service Procedures

BOCOM will assist overseas institutions to present documents required for opening account to relevant bond depository and trade center and handle agency bond trading after account is opened. Institutions to open account with include:

China Government Securities Depository Trust & Clearing Co. Ltd.
Shanghai Clearing House
National Interbank Funding Center

Documents required for opening account include:

Written permission from People's Bank of China to overseas institutions' entry into the interbank bond market;
Registration document in the country or region or certificate of approval for incorporation by regula-tory body in the country (region) the overseas institution is located in;
Agent settlement agreement signed by the two parties.
A copy of ID Card of the authorized signatory/operator;
Other materials required by institutions to open account with.

  
Service Descriptions

BOCOM provides RMB custody services for three types of institutional customers (including overseas central banks or monetary authorities, RMB clearing banks in Hong Kong and Macao, overseas banks participating in RMB settlement in cross-border trade and overseas insurance companies), helping them to invest in the interbank RMB bond market.

BOCOM provides for RMB qualified foreign institu-tional investors with services including application for quota, opening account, accounting valuation, fund settlement and investment monitoring and reporting.

Service Features

Provide professional and highly efcient escrow and operation services by right of extensive service experience

Guarantee steady and safe operation of products and protect the interests of investors

Balance and control all risks efectively and provide and coordinate solutions

Targeted Clients
All sorts of institutions with the permission of Chinese regulatory authorities, including overseas central banks or monetary authorities, RMB clearing banks in Hong Kong and Macao, overseas participating banks, pilot RMB Qualified Foreign Institutional Investors and overseas insurance companies.
Service Procedures

Sign Custody Agreement with BOCOM, and submit Letter of Authorization for custody.

Service Descriptions

On July 4th, 2014, BoCom Seoul branch was author-ized by PBOC to be Seoul's RMB clearing bank, which can provide clearing and settlement service to participating banks.

BOCOM Seoul branch could provide the following services to participating banks: RMB account service, RMB clearing service, Cross-border RMB buy and sell, RMB interbank lending, RMB bank note service, and RMB fixed deposit.

Service Features

With efcient banking system, the branch could provide local, cross-border and ofshore RMB clearing service to participating banks.

With its head ofce's strong RMB liquidity, the branch could provide funding for participating banks.

Based on PBOC's authorization, the branch could provide diversified RMB services, such as account, clearing, global market, etc.

Targeted Clients
Participating banks that signed RMB clearing and settlement agreement with the branch
Service Procedures
  • To sign RMB clearing and settlement agreement, apply for account opening, and open RMB clearing and settlement account with the branch.