(1) The foreign currency pledged by the borrower and the currency guaranteed by foreign-funded financial institutions are limited to freely convertible foreign currencies such as US dollars, euros, Swiss francs, Japanese yen, Hong Kong dollars and British pounds.
(2) The RMB exchange rate of RMB loans under foreign exchange guarantee is the current RMB benchmark exchange rate published by the People's Bank of China; When performing foreign exchange guarantee, the exchange rate is the foreign exchange buying price listed by Industrial and Commercial Bank of China on that day.
(3) The term of RMB loan pledged by foreign exchange shall not exceed 5 years at the longest. When the funds under foreign debt are used for pledge, the maturity date of RMB loan shall not be later than the maturity date of foreign debt.
(4) The term of RMB loans guaranteed by foreign-funded financial institutions shall not exceed 5 years at the longest. The letter of guarantee shall expire within at least six months to two years from the date when the borrower fails to perform the debt. The standby letter of credit will expire at least 15 days after the loan maturity date.
(5) The interest rates of RMB loans and pledged foreign exchange deposits under foreign exchange guarantee shall be implemented according to the relevant regulations of the People's Bank of China, and the benefits shall be paid off with the principal.
Three. Determination of loan amount
(1) The principal of RMB loan under foreign exchange guarantee is the loan principal, interest and related expenses. The loan amount shall be determined by special terms in the loan contract according to the pledged foreign exchange amount or the foreign exchange amount guaranteed by foreign-funded financial institutions and the text terms.
(2) The text of RMB loan contract under foreign exchange guarantee shall use special terms for early maturity, including special terms for early maturity without paying interest and special terms for early maturity.
1. The agreed time limit for not paying interest in advance means that if the borrower fails to pay interest on schedule as agreed in the contract and fails to pay within 15 days after being prompted by the lender, the lender has the right to declare the principal debt of the loan to be due in advance.
2. Special early maturity agreement means that once the exchange rate fluctuates, so that the guarantee amount is insufficient to cover the principal debt of the loan, the borrower needs to repay the RMB loan with insufficient guarantee amount or additional guarantee amount immediately until the guarantee amount is sufficient to cover the principal debt, otherwise the lender has the right to declare the principal debt of the loan to expire early.
(3) The maximum amount of RMB loan under foreign exchange pledge shall not exceed 95% of the pledged foreign exchange exchange amount. In principle, the guarantee text of RMB loans under the guarantee of foreign-funded financial institutions shall be in the format of exchange rate exposure, and the maximum loan amount shall not exceed the RMB amount converted according to the RMB benchmark exchange rate published by the People's Bank of China.
Four. Review and release
(1) The borrower must be a foreign-invested enterprise that has obtained the foreign exchange registration certificate of a foreign-invested enterprise from the State Administration of Foreign Exchange, and its capital has been fully paid in on schedule, without capital reduction or withdrawal.
(2) The source of foreign exchange pledge provided by the borrower is limited to the funds in the current account foreign exchange account (except for the export foreign exchange collection account to be written off).
(3) RMB loans under foreign exchange guarantee can be used for the borrower's fixed assets investment and liquidity needs, but not for the purchase of foreign exchange.
(4) The borrower shall open a foreign exchange settlement account and a RMB settlement account with the lender. When the current account foreign exchange income is pledged, the sum of the pledged foreign exchange amount and the balance of the foreign exchange settlement account shall not exceed the maximum amount of the foreign exchange settlement account approved by the State Administration of Foreign Exchange.
(5) Branches handling RMB loans pledged by foreign exchange shall set up special accounts for foreign exchange pledge, and both borrowers and lenders shall not stop paying pledged demand deposits. During the execution of the RMB loan contract under foreign exchange pledge, the borrower shall not use the funds in the foreign exchange pledge account without authorization.
(6) The credit guarantee issued by a foreign-funded financial institution shall be an unconditional, irrevocable and non-transferable written guarantee, and shall be jointly and severally liable for the principal debt of the RMB loan of the borrower.