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RMB Clearing Bank Service

1. Clearing Services
Provide Participating Banks with cross-border clearing services and offshore RMB clearing services

2.Nostro Account Service
Open RMB Nostro account for Participating Banks

3.Fixed Deposit
The Clearing Bank provides RMB fixed deposit services, with fixed deposit tenor up to 12 months, to help Participating Banks increasing their yield on residual funds in their clearing accounts.

4.Banknotes Services
Provide Participating Banks with RMB banknotes services including RMB banknotes deposit and withdrawal, RMB banknotes exchange and replacement of mutilated banknotes

5.Account Overdraft
The Clearing Bank provides intraday and overnight overdraft to Participating Banks’ clearing bank accounts

6.Position Squaring Service
The Clearing Bank can access the RMB foreign exchange market in China directly to assist Participating Banks purchase RMB Reserve Fund, and also provide position squaring services for RMB purchase and sale relating to cross-border commercial trade and any other cross-border businesses approved by PBC

7.Liquidity Support for RMB Account
The Clearing Bank can provide liquidity to Participating Bank’s RMB account through offshore money market, offshore RMB-FX swap, collateralized financing, etc and help Participating Bank ensuring the orderly operation of its payment settlement.