More players allowed into interbank lending

时间：2007-07-10 03:01:55

（单词翻译:单击）

July 10 - The central bank yesterday issued new rules on interbank lending, expanding the types of financial institutions allowed in this market.

 

The rules, which signify "the most important interbank lending policy shift", stipulate1 that insurers, trust firms, financial asset and insurance asset managers, financial leasing companies and auto2 financing firms will be allowed to participate in the market.

 

Previously3, commercial banks were the major players in the market, said Lu Wenlei, an analyst4 with Shanghai-based Shenyin and Wanguo Securities.

 

But financial institutions are not being allowed in unconditionally5.

 

Foreign banks should first get the approval from the banking6 regulator to conduct renminbi business, according to the rules, which will take effect on August 6.

 

To take part in interbank lending, corporate7 finance companies, trust firms, financial asset managers, financial leasing companies, auto financing firms and insurance asset managers should have been in the black in the past two consecutive8 years.

 

Securities companies should satisfy the same requirement and also have a capital of more than 200 million yuan.

 

Insurers should have adequate repayment9 abilities if they want to enter the market, according to the rules.

 

Specific trading limits for market players have been stipulated10. Banks can borrow money for a period of up to one year while securities brokerages and trust companies can do so for up to seven days.

 

The rules also set limits on the highest amount of money different institutions can borrow in proportion to their capital or assets.

 

These details have made the rules more comprehensive compared with the old regulation, which was on general bank lending practices drafted in the 1990s, Lu said.

 

"It will make the market more transparent11, which will in turn make it more active in terms of trading," he said.

 
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1 stipulate shhyP     
vt.规定，（作为条件）讲定，保证
参考例句：
  • International rules stipulate the number of foreign entrants.国际规则规定了外国参赛者的人数。
  • Some manufacturers stipulate the price at which their goods are to be sold.有些制造商规定出售他们生产的商品的价格。
2 auto ZOnyW     
n.(=automobile)(口语)汽车
参考例句：
  • Don't park your auto here.别把你的汽车停在这儿。
  • The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。
3 previously bkzzzC     
adv.以前，先前（地）
参考例句：
  • The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
  • Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。
4 analyst gw7zn     
n.分析家，化验员；心理分析学家
参考例句：
  • What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
  • The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。
5 unconditionally CfHzbp     
adv.无条件地
参考例句：
  • All foreign troops must be withdrawn immediately and unconditionally. 所有外国军队必须立即无条件地撤出。
  • It makes things very awkward to have your girls going back unconditionally just now! 你们现在是无条件上工，真糟糕！ 来自子夜部分
6 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
7 corporate 7olzl     
adj.共同的，全体的；公司的，企业的
参考例句：
  • This is our corporate responsibility.这是我们共同的责任。
  • His corporate's life will be as short as a rabbit's tail.他的公司的寿命是兔子尾巴长不了。
8 consecutive DpPz0     
adj.连续的，联贯的，始终一贯的
参考例句：
  • It has rained for four consecutive days.已连续下了四天雨。
  • The policy of our Party is consecutive.我党的政策始终如一。
9 repayment repayment     
n.偿还，偿还款；报酬
参考例句：
  • I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。
  • The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。
10 stipulated 5203a115be4ee8baf068f04729d1e207     
vt.& vi.规定；约定adj.[法]合同规定的
参考例句：
  • A delivery date is stipulated in the contract. 合同中规定了交货日期。
  • Yes, I think that's what we stipulated. 对呀，我想那是我们所订定的。 来自辞典例句
11 transparent Smhwx     
adj.明显的，无疑的；透明的
参考例句：
  • The water is so transparent that we can see the fishes swimming.水清澈透明，可以看到鱼儿游来游去。
  • The window glass is transparent.窗玻璃是透明的。

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