Introduction
The exchange of RMB floating interest and fixed interest between counterparties.
Interest Rate
Quoted in line with the market price.
Target Customers
Corporate customers with RMB deposit or liabilities.
Process
1. Agreement signing: before conducting the business of interest rate swaps with Bank of China, customers need to sign the Master Agreement of Derivative Transactions and the Application Form of RMB Interest Rate Swaps.
2. Deposit implementation: Bank of China may require the investors to pay security deposit or pledged securities according to credit standing.
3. Inquiry: customers shall inquire from Bank of China about the price by providing all the transaction details in form of written application.
4. Completion and settlement of the transaction: once the transaction is concluded, Bank of China shall provide transaction confirmation in writing to the customer.
5. Settlement: actual settlement shall take place on every–coupon exchange date till the end or termination of the transaction.
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