Participants attend a ceremony held by Hong Kong Exchanges and Clearing Limited to launch the "northbound" mainland-Hong Kong bond connect in Hong Kong, south China, July 3, 2017. With the northbound trading kicking off after the ceremony, qualified overseas investors will be able to invest in the Chinese mainland interbank bond market via the mainland-Hong Kong bond connect program. (Xinhua/Wang Shen)
BEIJING, June 24 (Xinhua) -- China's National Association of Financial Market Institutional Investors (NAFMII) released earlier in June the 2022 version of interbank bond lending master agreement, according to news posted on NAFMII's website.
NAFMII took the move to facilitate the interbank bond lending transactions and protect the legitimate rights and interest of market participants on the interbank bond market.
From July 1, the interbank bond lending rules unveiled by the Chinese central bank, the People's Bank of China, earlier in February will enter into force. The rules set requirements on bond lending participants, collateral to performance of related agreements, and bond lending master agreements to improve the existing bond lending rules, including supporting centralized bond lending to increase efficiency and flexibility of bond lending transactions.
According to NAFMII, market participants that have signed the interbank bond lending master agreements can ink pursuant to their concrete need the supplementary agreements, each of which is restricted to signing between two parties.
Signatories of the interbank bond lending master agreements shall report in time their master agreements and supplementary agreements signed and revisions to their supplementary agreements to NAFMII for record filing.
Non-NAFMII members are allowed to use the NAFMII interbank bond lending master agreement text after they obtain a written copyright authorization from NAFMII and promise in written form to accept the self-disciple management of NAFMII. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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