文档介绍：Promulgation date:
07-03-2007
Department:
China Banking mission
Effective date:
07-03-2007
Subject:
Banking&Finance
Order of China Banking mission
( [2007])
The Measures for Hypothecated Loans on Time Deposit Certificates of Individuals, which were adopted at the 55th chairman’s meeting of China Banking mission (hereinafter referred to as CBRC) on December 28th, 2006, are hereby promulgated and e into force as of the date of promulgation.
Chairman Liu Mingkang
July 3rd, 2007
Measures for Hypothecated Loans on Time Deposit Certificates of Individuals
Article 1 For the purpose of strengthening the administration of hypothecated loans on time deposit certificates of individuals, these Measures are formulated in accordance with the Law of the People’s Republic of China mercial Banks, the Guarantee Law of the People’s Republic of China and other relevant laws and administrative regulations.
Article 2 The term “hypothecated loans on time deposit certificates of individuals”(hereinafter referred to as hypothecated loans on deposit certificates) refers to the loan business whereby a borrower obtains a certain amount of RMB loan from mercial bank (hereinafter referred to as loaner) by hypothecating his outstanding time deposit certificate and then repays the principal and interest of the loan when es due.
Article 3 The term “loaner” as mentioned in these Measures ref