中国人民银行关于全国银行间债券市场债券交易管理办法

中国⼈民银行关于全国银行间债券市场债券交易管理办法Measures of the People's Bank of China for the Administration of Bond Transactions in the National Inter-Bank Bond Market发文日期: 2000-04-30Promulgation date: 2000-04-30地域: 全国Effective region: NATIONAL颁布机关: 中国⼈民银行Promulgator: The People's Bank of China 文号: 银发[2000]第2号Document no: Yin Fa [2000] No. 2时效性: 现行有效Effectiveness: Effective生效日期: 2000-04-30Effective date: 2000-04-30所属分类: 中央银行 ( 银行法->金融机构->中央银行 ) Category: Central Bank ( Banking Law->Financial Institution->Central Bank )中国⼈民银行关于全国银行间债券市场债券交易管理办法Measures of the People's Bank of China for the Administration of Bond Transactions in the National Inter-Bank Bond Market银发[2000]第2号Yin Fa [2000] No. 2 2000年4月30日April 30, 2000 为推动全国银行间债券市场的进⼀步发展，规范债券交易行为，防范市场风险，保护交易各方合法权益，中国⼈民银行制定了《全国银行间债券市场债券交易管理办法》，现予发布施行。

In order to propel the further development of the national inter-bank bond market, regulate bond transactions, prevent market risks, and protect the lawful rights and interests of each party to the transaction, the People's Bank of China has formulated the "Measures for the Administration of Bond Transactions in the National Inter-Bank Bond Market", which are hereby promulgated for implementation. 行长　戴相龙President Dai Xianglong 第⼀章 总则Chapter I General Provisions 第⼀条为规范全国银行间债券市场债券交易行为，防范交易风险，维护交易各方合法权益，促进全国银行间债券市场健康发展，根据国家有关法律法规，制定本办法。

Article 1 The present Measures are formulated in accordance with the relevant laws and regulations of the state for the purpose of regulating bond transactions in the national inter-bank bond market, preventing transaction risks, maintaining the lawful rights and interests of each party to the transaction, and promoting the healthy development of the national inter-bank bond market. 第⼆条本办法所指全国银行间债券市场债券交易（以下称债券交易）是指以商业银行等金融机构为主的机构投资者之间以询价方式进行的债券交Article 2 Bond transactions in the national inter-bank bond market (hereinafter referred to as bond transactions) as mentioned in the present Measures shall refer to the bond transactions made by means of price inquiry between institutional investors mainly composed of commercial banks易行为。

and other financial institutions. 第三条债券交易品种包括回购和现券买卖两种。

回购是交易双方进行的以债券为权利质押的⼀种短期资金融通业务，指资金融⼊方（正回购方）在将债券出质给资金融出方（逆回购方）融⼊资金的同时，双方约定在将来某⼀日期由正回购方按约定回购利率计算的资金额向逆回购方返还资金，逆回购方向正回购方返还原出质债券的融资行为。

现券买卖是指交易双方以约定的价格转让债券所有权的交易行为。

Article 3 There are two varieties of bond transactions, namely, repurchase and transaction in cash. Repurchase is a kind of short-term financing business which is carried out by both parties to the transaction by way of pledging the bonds. Specifically, it is a financing activity in which, when the funds receiver (the obverse repurchasing party) receives the funds by pledging the bonds to the funds provider (the reverse repurchasing party), and both parties agree that, on a certain date in the future, the obverse repurchasing party shall refund the funds to the reverse repurchasing party at the amount calculated on the basis of the stipulated interest for the repurchase, while the reverse repurchasing party shall refund the originally pledged bonds to the obverse repurchasing party. Transaction in cash shall refer to the transaction activity in which both parties to the transaction agree upon the assignment of the ownership of bonds at a contractual stipulated price. 第四条本办法所称债券是指经中国⼈民银行批准可用于在全国银行间债券市场进行交易的政府债券、中央银行债券和金融债券等记账式债券。

Article 4 Bonds as mentioned in the present Measures shall refer to the book-entry bonds such as government bonds, central bank bonds and financial bonds, etc., which are approved by the People's Bank of China to be used in transactions in the national inter-bank bond market. 第五条债券交易应遵循公平、诚信、自律的原则。

Article 5 Bond transactions shall be in compliance with the principles of fairness, honesty, credibility and self-discipline. 第六条中央国债券登记结算有限责任公司（简称中央结算公司）为中国⼈民银行指定的办理债券的登记、托管与结算机构。

Article 6 China Government Securities Depository Trust & Clearing Co. Ltd. (hereinafter referred to as CDC) shall be the institution designated by the People's Bank of China to handle registration, escrow and settlement of bonds. 第七条中国⼈民银行是全国银行间债券市场的主管部门。

中国⼈民银行各分支机构对辖内金融机构的债券交易活动进行日常监督。

Article 7 The People's Bank of China shall be the competent department in charge of the national inter-bank bond market. All branches of the People's Bank of China shall make daily supervision over the bond transaction activities of the financial institutions within their respective jurisdictions. 第⼆章 参与者与中介服务机构Chapter II Participants and Intermediary Service Institutions 第⼋条下列机构可成为全国银行间债券市场参与者，从Article 8 The following institutions may become participants in the national inter-bank bond market, and may engage in the事债券交易业务：（⼀） 在中国境内具有法⼈资格的商业银行及其授权分支机构；（⼆） 在中国境内具有法⼈资格的非银行金融机构和非金融机构；（三） 经中国⼈民银行批准经营⼈民币业务的外国银行分行。