State Administration of Foreign Exchange, Circular on the Determination of Short-term Foreign Debt Quotas of Financial Institutions in 2009

Issued: March 17 2009

Applicability: Requirements other than those specified in the Circular shall be handled in accordance with relevant provisions of the State Administration of Foreign Exchange, Issuance of the Circular on Short-term Foreign Debt Quotas of Financial Institutions in 2008 (Article 9).

Main Contents: The short-term foreign debt quota for Chinese-invested banks nationwide in 2009 is determined to be US$9.86 billion. The 2009 short-term foreign debt quota for certain foreign-invested banks with legal personality and branches of foreign-invested banks that implement centralised administration of short-term foreign debt quota is determined to be US$14.57 billion. The regional quota for Chinese-invested and foreign-invested banks with legal personality within the jurisdiction of a foreign exchange branch or office, and branches of foreign-invested banks that have not yet implemented centralised administration of short-term foreign debt quota is determined to be US$8.45 billion (Article 1).