MAS Notice 646 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

Notices

Last Revised Date: 01 August 2014

Notice 646 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

Requirements for banks conducting foreign exchange conversion in China via the Renminbi Clearing Bank.

Renminbi Business

Issued pursuant to:

Banking Act (Cap. 19) section 55

Applies to:

Full Bank (Locally Incorporated)

,

Full Bank (Branch)

,

Wholesale Bank (Branch)

,

Wholesale Bank (Locally Incorporated)

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Notice 646 Foreign Exchange Conversion in China via the Renminbi Clearing Bank for the Settlement of Eligible Cross-Border Trade

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This notice applies to all participating banks in Singapore that conduct foreign exchange conversion in China via the Renminbi Clearing Bank for the settlement of eligible cross-border trade. It sets out the requirements for banks to comply with, including verification of eligible trade, record keeping and reporting.

01 Aug 2014

MAS Notice 646 (Amendment) 2014 (90.6 KB) takes effect.

23 Oct 2013

MAS Notice 646 (Amendment) 2013 (140.3 KB) takes effect. 09 Jul 2013 MAS Notice 646 dated 09 July 2013 takes effect.

Requirements, templates and instructions for all banks when submitting statistical returns for Renminbi business activities.

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