Article 21 When a trust company engages in overseas wealth management business on behalf of clients, it shall entrust a domestic commercial bank that has obtained the qualification of overseas wealth management business on behalf of clients as a domestic custodian to manage all its overseas investment assets.
Article 22 A domestic custodian shall, according to the principle of prudence, risk management requirements and international practices, select overseas financial institutions with custody qualifications as overseas custody agents of the domestic custodian.
An overseas custodian agent shall meet the following conditions and be audited by a domestic custodian:
(1) Having the custody qualification recognized by the regulatory authorities of the country or region where it is located, or having a cooperative relationship with a domestic custodian, and having no record of being severely punished in the country or region where it is located in the last three years.
(2) The paid-in capital is not less than US$ 2.5 billion or its equivalent in a freely convertible currency.
(3) The long-term credit rating of an internationally recognized rating agency in the last three years is above Grade A..
(4) The corporate governance structure is sound, and the internal management system and risk control mechanism are perfect; It has a safe and efficient clearing and delivery system and disaster response mechanism.
(5) The financial supervision system of the country or region where it is located is perfect, and the financial supervision department has signed a memorandum of understanding on supervision cooperation with the financial supervision institution of China, and maintained an effective supervision cooperation relationship.
(6) Other prudential conditions stipulated by the China Banking Regulatory Commission and the State Administration of Foreign Exchange.
Article 23 A trust company shall set up a custody account with a domestic custodian to hold the trust property entrusted for management. Domestic custodian and overseas custodian agent must set up separate custody accounts for different trust projects.
Article 24 When a trust company conducts overseas financial management business on behalf of its clients, it shall separate the responsibilities of the domestic custodian from the overseas custodian agent, and the overseas custodian agent from the overseas investment manager.
Trust companies should make fair choices according to the principle of marketization. If a related party of a domestic custodian acts as an overseas custodian agent or overseas investment manager entrusted with overseas wealth management business, it shall report to the China Banking Regulatory Commission in advance.
Article 25 A domestic custodian shall open overseas settlement accounts and securities custody accounts for the use of foreign exchange funds for overseas financial trusts entrusted by trust companies at overseas custody agents, and handle fund settlement business and securities custody business at overseas securities registration and settlement institutions.
Article 26 After receiving the approval document of the amount of foreign exchange payment for investment from the State Administration of Foreign Exchange, a trust company shall sign a custody agreement with a domestic custodian with the approval document and open a domestic custody account. Domestic custody accounts can include RMB accounts and foreign exchange accounts. A trust company shall submit a formal custody agreement to the State Administration of Foreign Exchange within 5 working days from the date of opening a domestic custody account.
Article 27 The income range of the trust company's domestic foreign exchange custody account includes: the funds transferred by the trust company from the foreign exchange special account of the entrusted overseas financial management trust project, the funds transferred from the domestic RMB custody account of the entrusted overseas financial management trust project, the investment principal and income remitted abroad, and other income approved by the State Administration of Foreign Exchange.
Article 28 The expenditure scope of a trust company's domestic foreign exchange custody account includes: funds remitted to the overseas foreign exchange fund utilization settlement account, funds remitted to the foreign exchange special account of the entrusted overseas financial trust, funds settled according to the entrusted overseas financial trust project, currency exchange fees, custody fees, asset management fees and other fees approved by the State Administration of Foreign Exchange.
Article 29 If the trustee accepts foreign exchange funds for overseas financial management, the trust company shall also open a special foreign exchange account for overseas financial management trust for each trust project in its fund collection and payment agency bank, which will be used to store the entrusted funds of trust products or plans, as well as the foreign exchange funds for dividend distribution and termination of transfer back of trust products or plans. The trust company shall report to the local foreign exchange bureau within 5 working days after opening an account.
Article 30 The income range of the trust company's special foreign exchange account for overseas financial management trust is: the foreign exchange trust funds transferred by the trustor, the funds transferred back from the domestic custody account and other income approved by the foreign exchange bureau. The expenditure scope of foreign exchange fund trust account includes: transferring foreign exchange trust funds into domestic custody account according to the designated use of foreign exchange trust products or plans, terminating the distribution of foreign exchange trust funds and income, withholding and paying taxes, other expenses agreed by trust contract to be borne by trust property, and other income approved by the foreign exchange bureau.
Article 31 When a trust company issues an overseas financial management trust plan, it shall transfer the trust funds to the domestic custody account in the original currency after the recommendation period ends and the trust plan is established.
A trust company shall purchase foreign exchange with RMB funds transferred to the domestic custody account in the way of settlement and sale of foreign exchange to customers, and the domestic custodian shall complete the corresponding RMB transfer and foreign exchange collection operations through the domestic custody account according to the fund payment instructions. A trust company shall, in the trust contract signed with its customers, specify the principles for determining the RMB exchange rate used for purchasing foreign exchange with RMB funds.
Article 32 Individual domestic residents who purchase trust plans entrusted by trust companies for overseas financial management with their own foreign exchange funds shall not use foreign currency cash directly, but only the funds in their foreign exchange savings accounts and capital accounts, and shall not use the funds in their personal foreign exchange settlement accounts. After the principal and income are remitted, they will be transferred from the domestic custody account to the beneficiary's foreign exchange savings account through the special trust foreign exchange account, and no direct cash withdrawal or foreign exchange settlement is allowed.
Domestic institutions may not purchase overseas financial trust plans entrusted by trust companies with debt foreign exchange funds. If it is purchased with its own foreign exchange funds, the principal and income shall be remitted back to the original foreign exchange account of the domestic institution through the special trust foreign exchange account.
Article 33 After the termination of the trust plan, the trust company shall pay the trust benefits to the beneficiary or the person specified in the trust document according to the agreement in the trust document.
If a domestic individual purchases a trust plan entrusted by a trust company with overseas financial management with its own RMB funds, the principal and income can be remitted and paid to the beneficiary after the settlement of foreign exchange by the trust company, or transferred from the domestic custody account to the beneficiary's foreign exchange savings account through the special trust foreign exchange account. If a domestic institution purchases an overseas financial trust plan entrusted by a trust company with its own RMB funds, the principal and income can be paid by the trust company after settlement of foreign exchange, or transferred from the domestic custody account to the domestic foreign exchange account of the domestic institution through a special foreign exchange account for trust. The settlement of foreign exchange shall be handled with reference to the principle of purchasing foreign exchange as stipulated in Article 31.
If the entrusted funds are foreign exchange, the trust company will transfer the principal and income remitted into the foreign exchange special account of the entrusted overseas financial trust back to the account designated by the beneficiary or the designated person in the trust documents.
Article 34 In addition to the duties prescribed by relevant laws and regulations, the custodian shall also perform the following duties:
(1) Opening domestic custody accounts, overseas settlement accounts for the use of foreign exchange funds and securities custody accounts for trust companies.
(2) To supervise the investment operation of the trust company, and report to the regulatory authorities and the State Administration of Foreign Exchange in a timely manner if it finds that its investment instructions are illegal.
(3) Keep records of fund remittance, remittance, exchange, foreign exchange receipt and payment and fund transaction of the trust company for a period of not less than 65,438+05 years.
(four) to handle the statistical declaration of international payments in accordance with the provisions.
(5) Assisting the State Administration of Foreign Exchange in inspecting the overseas use of trust company funds.
(six) other duties stipulated by the regulatory authorities and the State Administration of Foreign Exchange according to the principle of prudent supervision.
Article 35 A custodian shall submit relevant reports in accordance with the following requirements:
(1) Report to the CBRC, the State Administration of Foreign Exchange and the local banking regulatory bureau within 5 working days from the date of opening the domestic custody account, the overseas settlement account for the use of foreign exchange funds and the securities custody account of the trust company.
(2) Report the remittance of relevant funds to the State Administration of Foreign Exchange within 5 working days from the date when the trust company remits the principal or remits the principal and income.
(3) Report the income and expenditure of the trust company's domestic custody account to the State Administration of Foreign Exchange within 5 working days after the end of each month.
(4) Submit a report on the overseas use of foreign exchange funds of the trust company in the previous year to the State Administration of Foreign Exchange within 65,438+0 months after the end of each fiscal year.
(5) Report to the CBRC, the State Administration of Foreign Exchange and the local banking regulatory bureau in a timely manner when the investment instructions of the trust company are found to be illegal.
(6) Other reporting matters as stipulated by the China Banking Regulatory Commission and the State Administration of Foreign Exchange.
Article 36 The foreign exchange bureau where the trust company is located shall summarize the opening and cancellation of the domestic custody account of the trust company and the foreign exchange special account of the overseas financial trust within its jurisdiction on a monthly basis, and submit it to the State Administration of Foreign Exchange.