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Electronic Commercial Draft Inter-bank Discounting


 

Introduction

Electronic commercial draft inter-bank discounting refers to an activity where financial institutions holding electronic commercial drafts transfer rights of the drafts to other financial institutions before the maturity date of the drafts via the Electronic Commercial Draft System of the People's Bank of China. The latter financial institutions will pay the agreed amount to the bearers of drafts after deducting interest. Inter-bank discounting  is a financing method with two transaction types, buy-out and sale-off.

Features

Financial institutions are able to flexibly adjust their asset size and credit structure in order to improve asset utilization efficiency and lower asset risks.

Discount Rate

Generated by spread on basis of 3M SHIBOR.

Target Customers

Various levels of financial institutions, those are qualified to operate bill business, including banks, postal savings banks, other financial institutions and the People's Bank of China.

Application Qualifications

Various levels of financial institutions registered within the territories of the People's Republic of China, having qualifications to operate bill business and credit line.

Required Documents

1. List of drafts for which inter-bank discounting is applied;

2. Inter-bank discounting voucher;

3. Electronic commercial draft inter-bank discounting application to the discounting bank via the Electronic Commercial Draft System of the People's Bank of China.

Process

1. The applicant for inter-bank discounting files an application via the Electronic Commercial Draft System of the People's Bank of China;

2. Subject to the examination and approval of the bill financing department, the sales account manager signs an inter-bank discounting contract with the applicant;

3. The bill financing department responds in the system, disburses funds to the account of the applicant for inter-bank discounting according to the funds clearing method selected by the applicant, and files the inter-bank discounting documents. 

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