商业银行柜台记账式国债交易管理办法 Order of the Peoples Bank of China

s required.

　　The Central Clearing Co. shall, in accordance with the data and settlement orders received, finish the bond settlement between the undertaking banks' own accounts and their general broker's accounts before the start of the next business day.

　　Chapter IV Bond Custody and Redemption

　　Article 27 The Central Clearing Co. shall open dealer's accounts and general broker's accounts for undertaking banks, and record their own bonds and their clients' bonds respectively. The Central Clearing Co. shall be responsible for the authenticity, accuracy and integrity of the first-grade custodian accounts.

　　Article 28 An undertaking bank shall open bond custodian account for investors to record their bonds. After the Central Clearing Corporation's examination and verification, the outstanding balance recorded by the undertaking bank in the second-grade custodian accounts should be the quantity of bonds held by investors. The undertaking bank shall be responsible for the authenticity, accuracy, integrity and safety of the second-grade custodian accounts.

　　Article 29 Undertaking banks and the Central Clearing Corporation may charge service fees for providing custody and other relevant services.

　　Article 30 Undertaking banks shall strictly separate their own bonds with their investors' bonds, and shall not misappropriate investors' bonds.

　　Article 31 Investors may make recustody of their bonds among different undertaking banks.

　　Article 32 Issuers shall transfer the redeemed interest or principal to the fund account designated by the Central Clearing Corporation at least one workday before the interest-payment day or the maturity day. The Central Clearing Corporation shall after receipt transfer the above mentioned money to the undertaking bank one business day in advance, the latter shall transfer the total amount of money to the fund accounts of investors on the interest payment day or redemption day.

　　Chapter V Inquiry and Supervision

　　Article 33 Undertaking banks shall establish account information inquiry systems for over-the-counter bonds trading, while the Central Clearing Co

rporation shall establish an account information reviewing system. An investor may inquire about the transaction volume and outstanding balance of his or her bonds from the undertaking bank or require that the Central Clearing Corporation review his or her outstanding balance through the reviewing system. Were there any doubts, the investor may ask the undertaking bank to explain, and even report that to the local People's Bank of China branch if unsolved.

　　Article 34 Undertaking banks shall as stipulated transfer their over-the-counter trading data to the Central Clearing Corporation, and the latter shall check relevant accounts against the data received. The Central Clearing Corporation shall check any wrong information with the undertaking bank concerned. If the check cannot be finished before the next business day, the Central Clearing Corporation shall suspend part or all of transactions of the undertaking bank with the approval by the People's Bank of China.

　　Article 35 The Central Clearing Corporation shall publish the quotation information provided by undertaking banks to the public through China Bond Information web-site or the media designated by the People's Bank of China.

　　Article 36 With the authorization of the People's Bank of China, the Central Clearing Corporation may examine the second-grade custodian accounts of an undertaking bank.

　　Article 37 Undertaking banks and the Central Clearing Corporation shall report periodically to the People's Bank of China on over-the-counter trading and subject themselves to the inspection and supervision by the People's Bank of China.

　　Chapter VI Penalty Provisions

　　Article 38 A commercial bank that has committed any of the following offences shall, according to the seriousness of the offence, be punished by the People's Bank of China in the formality of circulating a notice of criticism, giving a disciplinary warning, suspending or revoking its trading status, plus a fine of no more than RMB30,000 yuan. Both the senior manager and the directly responsible personnel shall be given disciplinary punishment by their regulatory authorities. Offences against the People's Bank of China management rules governing the competence for posts on Senior Management of Financial Institutions will be punished according to the rules.

　　(1) Conducting over-the-counter trading business without approval;

　　(2) Not publishing two-way quotations as stipulated by the rules;

　　(3) Short-selling bonds;

　　(4) Conducting over-the-counter trading business out of the trading system;

　　(5) Not satisfying the need of investors according to the quoted prices;

　　(6) Suspending trading activities without proper causes;

　　(7) Misappropriating investors' bonds;

　　(8) Fabricating bond accounts' records;

　　(9) Change Custody for investors without following the relevant rules;

　　(10) Issuing false bond custody certification;

　　(11) Divulging investors' account secret information; and

　　(12) Other offences against the Rules.

　　Article 39 The Central Clearing Corporation shall be punished by the People's Bank of China circulating a notice of criticism or giving a disciplinary warning plus a fine of no more than RMB30000 yuan for any of the following offences. Both the senior manager and the directly responsible person shall be given a disciplinary punishment by their supervisory authorities.

　　(1) Causing serious losses to undertaking banks or investors because of its dereliction of duty;

　　(2) Publishing false information or divulging non-public information;

　　(3) Inducing investors and resulting in their losses;

　　(4) Facilitating the malicious manipulation of the market or various activities against the Rules by undertaking banks;

　　(5) Divulging secrets of undertaking banks and investors; and

　　(6) Other offen

ces against the Rules.

　　Chapter VII Supplementary Provisions

　　Article 40 The People's Bank of China shall be responsible for the interpretation of the Rules.

　　Article 41 The Rules shall enter into force as of the date of its promulgation

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