中国人民银行关于印发《金融机构外汇存款准备金管理规定》的通知 Notice of the Peoples Bank of China on Printing and Distributing the

lies for using the foreign exchange deposit reserve， the financial institution shall report for the approval of the People's Bank of China or the branch or sub-branch authorized by the People's Bank of China.

　　Article 17 For any financial institutio

n that may use the foreign exchange deposit reserve upon the approval of the People's Bank of China， the approved amount of foreign exchange deposit reserve that may be used shall be deducted from the foreign exchange deposit reserve it has deposited within the time limit of approval. And the formula for computation is as follows：

　　The balance of foreign exchange reserve deposit of the current month = the balance of the foreign exchange deposit at the end of last month × the rate of foreign exchange deposit reserve-the approved amount of foreign exchange deposit reserve that can be used

　　Article 18 The People's Bank of China shall manage the foreign exchange deposit reserve that can be used by a financial institution in a special account and assign a special person to take charge of it.

　　Article 19 The foreign exchange deposit reserve used by a financial institution shall be used according to provisions and shall not be appropriated.

　　Chapter V Legal Liability

　　Article 20 Where any Chinese-funded commercial bank fails to deposit the foreign exchange deposit reserve according to the proportion as prescribed by the People's Bank of China， it shall be subject to the punishment as prescribed in Article 77 of the Law of the People's Republic of China on Commercial Banks. Where it violates the provisions of Article 12 of the present Provisions， it shall be subject to the punishment as prescribed in Article 80 of the Law of the People's Republic of China on Commercial Banks. Where any Chinese-funded financial company fails to deliver the foreign exchange deposit reserve according to the proportion as prescribed by the People's Bank of China and violates the provisions of Article 12 of the present Provisions， it shall be subject to the punishment as prescribed in Article 46 of the Law of the People's Republic of China on the People's Bank of China. Where any foreign-funded financial institution fails to deliver the foreign exchange deposit reserve according to the proportion as prescribed by the People's Bank of China， it shall be subject to the punishment as prescribed in Article 45 of the Regulation of the People's Republic of China on the Management of Foreign-funded Financial Institutions. Where it violates Article 12 of the present Provisions， it shall be subject to the punishment as prescribed in Article 47 of the Regulation of the People's Republic of China on the Management of Foreign-funded Financial Institutions.

　　Any financial institution that has corrected the aforesaid illegal acts in time and on its own initiative shall be given a lighter punishment or under the mitigation of punishment below the minimum statutory prescript according to the provisions of Articles 5 and 27 of the Administrative Punishment Law of the People's Republic of China.

　　Article 21 Where the People's Bank of China has any of the following acts， the leader in charge directly responsible and the personnel directly liable shall be subject to the administrative punishment according to the relevant laws and regulations in light of their circumstances：

　　1. Failing to take correction and punishment measures in time when discovering any act of any financial institution violating the regulations of the present Provisions；

　　2. Embezzling the foreign exchange deposit reserve of any financial institution without permission；

　　3. Approving any financial institution to use foreign exchange deposit reserve without permission by exceeding the purview of examination and approval； or

　　4. Not well supervising the use of foreign exchange deposit reserve by any financial institution.

　　Chapter VI Supplementary Provisions

　　Article 22 The power to interpret and amend the present Provisions shall remain with the People's Bank of China.

　　Article 23 The present Provisions shall come into force as of January 1st， 2005. The Measures for the Management of

Payment and Deposit of Deposit Reserve by Foreign-funded Financial Institutions promulgated by the People's Bank of China on May 40， 1996 and the Provisions on Foreign Exchange Deposit Reserve Management promulgated on December 1st， 1996 shall be repealed simultaneously

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