The People's Bank of China Releases the Measures for the Administration of Central Bank Deposit Accounts Central Bank | Deposits | The People's Bank of China
In order to standardize the services and management of central bank deposit accounts, improve the transparency, fairness, and accessibility of central bank monetary settlement services, the People's Bank of China has formulated and issued the "Central Bank Deposit Account Management Measures".
The central bank deposit account service is the prerequisite and foundation for the People's Bank of China to fulfill its duties, and is an important carrier for implementing monetary policy, maintaining financial stability, and providing final settlement. The People's Bank of China opens deposit accounts and provides account services for financial institutions, non bank payment institutions, financial infrastructure operation institutions, overseas central banks, and internal departments of the People's Bank of China in accordance with legal systems such as the People's Bank of China Law and the Measures for the Custody of Customer Reserve Funds for Non bank Payment Institutions. The formulation of the Measures is of great significance for promoting the legalization of central bank deposit account management and services, optimizing the service functions of central bank accounts, enhancing the ability to prevent fund settlement risks, better achieving the monetary policy goals of the People's Bank of China, and maintaining financial stability.
The Measures consist of six chapters and 43 articles. The Measures unify the classification, account opening conditions, and evaluation standards of central bank deposit accounts, improving the predictability and convenience of obtaining central bank account services; Clarify the management requirements for opening, changing, revoking, and using central bank deposit accounts, and implement full life cycle management of accounts. The Measures focus on strengthening risk control in key links, standardizing requirements for agency settlement and account security management, which is conducive to reducing the risk of fund settlement in central bank deposit accounts and ensuring business continuity. At the same time, from the perspective of the People's Bank of China providing account services and the account opening institutions using accounts, it is clear that the People's Bank of China and the account opening institutions, as equal civil subjects, clarify the rights, obligations, and responsibilities of both parties through contractual agreements.
Next, the People's Bank of China will conscientiously implement the Measures, further improve the quality and efficiency of central bank deposit account management and services, and promote the stable and healthy development of central bank deposit account business.