全国银行间同业拆借中心银行间债券交易规则（试行）_法律英语

全国银行间同业拆借中心银行间债券交易规则（试行）

文章来源：文章作者：发布时间：2007-05-26 05:44 字体： [大中小]　进入论坛

(单词翻译:双击或拖选)

(Promulgated on 3 November 1998, and effective as approved by the People's Bank of China.)
颁布日期：19981103 　实施日期：19981103 　颁布单位：中国人民银行

　　PART ONE　GENERAL PRINCIPLES

　　Article 1　These Rules have been formulated¹ in accordance with related regulations, such as the People's Bank of China, Interbank Bond Buy-Back Business Tentative Provisions, the People's Bank of China, Halting by Commercial Banks of Bond Buy-Back and Cash Bond Transactions on the Bond Market Circular and the People's Bank of China, Operation of Interbank Cash Bond Transactions Circular, in order to standardize² interbank bond transactions and to protect the legal rights and interests of those involved.

　　Article 2　For the purposes of these Rules, the terms listed below have the following meanings:

　　1. Bonds mean national debt and policy bank debentures³ approved for trading by the People's Bank of China, central bank capital bonds and other bonds.

　　2. Trading members mean financial institutions approved by the People's Bank of China to conduct bond transactions on the national interbank loans market.

　　3. Bond transactions mean bond trading and bond buy-back.

　　Bond trading means the buying and selling of a certain sum in bonds at an agreed price by trading members and the settlement of the sum involved within the stipulated⁴ settlement period.

　　Bond buy-back means that when the bond holder⁵ (principal buy-backer) sells bonds to the bond buyer (converse⁶ buy-backer), the two parties agree that the principal buy-backer will buy back from the converse buy-backer an equivalent number of the same type of bonds at a particular date in the future and at an agreed price.

　　Principal buy-backer means the party selling the bonds in the first trade in a bond buy-back. The converse buy-backer means the party buying the bonds in the first trade in a bond buy-back.

　　4. Transaction systems mean computer processing systems, data communications systems and communications network systems administered and operated by the National Interbank Loans Centre (hereafter referred to as the "Loans Centre").

　　Article 3　Trading members must abide⁷ by the principles of voluntary, sincerity⁸ and self-discipline in bond transactions. Trading members shall quote their own prices, select their own opponents in transactions, carry out their own settlements, and take responsibility for the risk.

　　Article 4　The Loans Centre shall provide services for trading members' bond transactions and shall be supervised by the People's Bank of China.

　　PART TWO　BASIC TRANSACTION RULES

　　Article 5　Business days for transaction systems shall be every Monday to Friday, excepting statutory holidays.

　　Article 6　The shortest buy-back period shall be one day and the longest one year. Trading members can choose their own buy-back period within these limits but may not extend the period.

　　Article 7　The Loans Centre shall announce the listing date, delisting date, and the starting and ending date of trading for listed bonds in accordance with the transaction bond guidelines provided by the Central National Debt Registration⁹ and Settlement Company Limited (hereafter referred to as the "Central Settlement Co").

　　Article 8　The minimum sum for bond transactions shall be bonds of a face value of Rmb 100,000 and the trading unit shall be bonds of a face value of Rmb 10,000.

　　PART THREE　TRANSACTION PROCEDURES

　　Article 9　Bond transactions shall use the price inquiry¹⁰ method, including the three steps of transactions of independent price quotation¹¹, format¹² price inquiry and confirmation¹³ of completion of transaction.

　　Article 10　There shall be two types of independent price quotation by trading members: public price quotation and dialogue price quotation.

　　Public price quotation means that a trading member shall make a price quotation on the market without confirmation of sale in order to obtain price inquiries¹⁴ from other trading members.

　　Dialogue price quotation means that in the course of a price inquiry a trading member shall make a price quotation to the opponent in the transaction, and the transaction can be completed immediately with the confirmation of the opponent.

　　Article 11　Format price inquiry means that a trading member must fill in a form of the stipulated format stating his own intention to trade. Price quotations¹⁵ not made in accordance with the regulations shall be invalid¹⁶.

　　Article 12　Confirmation of completion of transaction must go through the process of "dialogue price quotation - confirmation", i.e. the transaction shall be completed after one party issues a dialogue price quotation which the other party confirms and the transaction systems feed back the completed transaction in a timely fashion.

　　Article 13　Before a transaction is completed both parties in a dialogue price quotation may take turns to quote prices to each other within the stipulated number of times. A dialogue in which the stipulated number of quotations has been exceeded but the transaction still not completed must go through another price inquiry process.

　　Article 14　Before completion of a transaction is confirmed, trading members may amend¹⁸ or rescind¹⁹ a price quotation. A transaction shall be valid¹⁷ once the completion is confirmed and trading members may not re-amend or rescind the price quotation.

　　Article 15　Once completion of a bond transaction is confirmed, both parties involved in the completed transaction shall each stamp a notice of completion in accordance with the transaction system transaction completion report.

　　Bond trading notices of completion shall include: date transaction was completed, serial²⁰ number of the completed transaction, trading members' code name, titles of both parties in the transaction, bond type (bond type code name and abbreviated²¹ name), price of the completed transaction, total face value of bonds, sum involved in the completed transaction, settlement date, opponent's bond trust account and Renminbi capital account etc.

　　Bond buy-back notices of completion shall include: date transaction was completed, serial number of the completed transaction, trading members' code name, titles of both parties in the transaction, bond type (bond type code name and abbreviated name), buy-back interest rate, buy-back time limit, total face value of bonds, sum involved in the completed transaction, sum involved in due date repayment²², first payment date, due date payment date, opponent's bond trust account and Renminbi capital account etc.

　　Article 16　Bond trading notices of completion shall be contract documents confirming the validity of bond trading transactions. Bond buy-back notices of completion and Interbank Bond Buy-Back Principal Agreements signed by trading members shall be contract documents confirming the validity of bond buy-back transactions. If trading members query²³ or disagree with a notice of completion, the record of completion in the transaction system shall be definitive²⁴.

　　Article 17　The timing²⁵ of bond settlement and capital settlement shall use the "T + 0" or "T + 1" system. Trading members of both parties shall decide the timing of bond and capital settlement on their own. In interbank bond transactions "T + 0" means that trading members shall carry out bond and capital settlement on the date the bond transaction is completed; "T + 1" means that trading members shall carry out bond and capital settlement on the first business day after the date the bond transaction is completed. Bond settlement and capital settlement for bond buy-back must take place on the same day. Bond settlement shall be carried out in accordance with the Interbank Bond Transactions Settlement Rules (Trial Implementation). Capital settlement shall be carried out in accordance with the relevant People's Bank of China regulations.

　　PART FOUR　TRANSACTION INFORMATION

　　Article 18　The Loans Centre shall issue the following information to trading members:

　　1. the previous trading day's closing price and weighted average price for bond trading, and that day's opening price for trading, highest, lowest and most recent completion price, weighted average price, volume of transactions completed and sum involved in transactions completed, for each type of bonds;

　　2. the previous trading day's weighted average interest rate and closing interest rate for bond buy-back, and that day's opening interest rate for bond buy-back, the highest, lowest and most recent interest rates for completed transactions, weighted average interest rate, volume of transactions completed and sum involved in transactions completed, for each time limit;

　　3. trading members' market announcements;

　　4. information which trading members have authorized²⁶ to be made public;

　　5. notices of violations²⁷ of the regulations by trading members; and

　　6. other market information which the People's Bank of China has authorized to be made public.

　　Article 19　The Loans Centre shall report to the higher authorities in a timely fashion information on bond transactions by trading members in accordance with the requirements of the People's Bank of China.

　　PART FIVE　PENALTIES FOR VIOLATIONS OF THE REGULATIONS

　　Article 20　The Rules recognize the following behaviour by trading members as violations of the regulations:

　　1. infringement²⁸ of the operating procedures and damage to the transaction system;

　　2. disruption of transaction procedures and adversely²⁹ affecting the proper operation of transactions;

　　3. non-payment of service charges in accordance with the regulations; and

　　4. other violations of the regulations as recognized by the People's Bank of China.

　　Article 21　In order to protect proper transaction procedures, the Loans Centre may issue warnings or notifications of how a transgression³⁰ shall be dealt with, dependent upon the seriousness of trading members' violations of the regulations, and report these to be put on file with the People's Bank of China.

　　Article 22　As well as imposing³¹ penalties as stipulated in Article 21, the Loans Centre must report trading members who seriously violate the regulations, and those directly responsible, to the People's Bank of China and notify the Central Settlement Company. After examination and approval by the People's Bank of China, a trading member's qualifications can be temporarily suspended or be revoked³².

　　Article 23　The Loans Centre shall report all violations by trading members of the relevant provisions of the People's Bank of China to the People's Bank of China in a timely fashion.

　　PART SIX　SUPPLEMENTARY³³ PROVISIONS

　　Article 24　Trading members should pay service fees in accordance with the regulations. The specific methods and standards for these shall be implemented³⁴ by the Loans Centre after approval by the People's Bank of China.

　　Article 25　Force majeure or special circumstances must be handled by trading members in accordance with the Interbank Bond Transactions Emergency Rules approved by the People's Bank of China.

　　Article 26　These Rules shall be implemented on the date they are approved by the People's Bank of China.

点击

收听单词发音

1 formulated
v.构想出( formulate的过去式和过去分词 )；规划；确切地阐述；用公式表示
参考例句：
He claims that the writer never consciously formulated his own theoretical position. 他声称该作家从未有意识地阐明他自己的理论见解。来自《简明英汉词典》 This idea can be formulated in two different ways. 这个意思可以有两种说法。来自《现代汉英综合大词典》

2 standardize
v.使符合标准，使标准化
参考例句：
We will extend and standardize legal services and provide effective legal aid.拓展和规范法律服务，积极开展法律援助。 There is a drive both to standardise components and to reduce the number of models on offer.正在为实现零部件标准化和减少推出的型号数量而努力。

3 debentures
n.公司债券( debenture的名词复数 )
参考例句：
My money is invested in debentures. 我把钱用于买债券。来自《现代汉英综合大词典》 Owners of debentures do not have voting rights. 信用债券的所有人没有选择权。来自辞典例句

4 stipulated
vt.& vi.规定；约定adj.[法]合同规定的
参考例句：
A delivery date is stipulated in the contract. 合同中规定了交货日期。 Yes, I think that's what we stipulated. 对呀，我想那是我们所订定的。来自辞典例句

5 holder
n.持有者，占有者；(台，架等)支持物
参考例句：
The holder of the office of chairman is reponsible for arranging meetings.担任主席职位的人负责安排会议。 That runner is the holder of the world record for the hundred-yard dash.那位运动员是一百码赛跑世界纪录的保持者。

6 converse
vi.谈话，谈天，闲聊；adv.相反的，相反
参考例句：
He can converse in three languages.他可以用3种语言谈话。 I wanted to appear friendly and approachable but I think I gave the converse impression.我想显得友好、平易近人些,却发觉给人的印象恰恰相反。

7 abide
vi.遵守；坚持；vt.忍受
参考例句：
You must abide by the results of your mistakes.你必须承担你的错误所造成的后果。 If you join the club,you have to abide by its rules.如果你参加俱乐部，你就得遵守它的规章。

8 sincerity
n.真诚，诚意；真实
参考例句：
His sincerity added much more authority to the story.他的真诚更增加了故事的说服力。 He tried hard to satisfy me of his sincerity.他竭力让我了解他的诚意。

9 registration
n.登记，注册，挂号
参考例句：
Marriage without registration is not recognized by law.法律不承认未登记的婚姻。 What's your registration number?你挂的是几号？

10 inquiry
n.打听，询问，调查，查问
参考例句：
Many parents have been pressing for an inquiry into the problem.许多家长迫切要求调查这个问题。 The field of inquiry has narrowed down to five persons.调查的范围已经缩小到只剩5个人了。

11 quotation
n.引文，引语，语录；报价，牌价，行情
参考例句：
He finished his speech with a quotation from Shakespeare.他讲话结束时引用了莎士比亚的语录。 The quotation is omitted here.此处引文从略。

12 format
n.设计，版式；[计算机]格式，DOS命令:格式化(磁盘)，用于空盘或使用过的磁盘建立新空盘来存储数据；v.使格式化，设计，安排
参考例句：
Please format this floppy disc.请将这张软盘格式化。 The format of the figure is very tasteful.该图表的格式很雅致。

13 confirmation
n.证实，确认，批准
参考例句：
We are waiting for confirmation of the news.我们正在等待证实那个消息。 We need confirmation in writing before we can send your order out.给你们发送订购的货物之前，我们需要书面确认。

14 inquiries
n.调查( inquiry的名词复数 )；疑问；探究；打听
参考例句：
He was released on bail pending further inquiries. 他获得保释，等候进一步调查。 I have failed to reach them by postal inquiries. 我未能通过邮政查询与他们取得联系。来自《现代汉英综合大词典》

15 quotations
n.引用( quotation的名词复数 )；[商业]行情（报告）；（货物或股票的）市价；时价
参考例句：
The insurance company requires three quotations for repairs to the car. 保险公司要修理这辆汽车的三家修理厂的报价单。来自《简明英汉词典》 These quotations cannot readily be traced to their sources. 这些引语很难查出出自何处。来自《现代汉英综合大词典》

16 invalid
n.病人，伤残人；adj.有病的，伤残的；无效的
参考例句：
He will visit an invalid.他将要去看望一个病人。 A passport that is out of date is invalid.护照过期是无效的。

17 valid
adj.有确实根据的；有效的；正当的，合法的
参考例句：
His claim to own the house is valid.他主张对此屋的所有权有效。 Do you have valid reasons for your absence?你的缺席有正当理由吗？

18 amend
vt.修改，修订，改进；n.[pl.]赔罪，赔偿
参考例句：
The teacher advised him to amend his way of living.老师劝他改变生活方式。 You must amend your pronunciation.你必须改正你的发音。

19 rescind
v.废除，取消
参考例句：
They accepted his advice and rescinded the original plan.他们听从了他的劝告，撤销了原计划。 Trade Union leaders have demanded the government rescind the price rise.工会领导已经要求政府阻止价格上涨。

20 serial
n.连本影片，连本电视节目；adj.连续的
参考例句：
A new serial is starting on television tonight.今晚电视开播一部新的电视连续剧。 Can you account for the serial failures in our experiment?你能解释我们实验屡屡失败的原因吗？

21 abbreviated
adj. 简短的，省略的动词abbreviate的过去式和过去分词
参考例句：
He abbreviated so much that it was hard to understand his article. 他的文章缩写词使用太多，令人费解。 The United States of America is commonly abbreviated to U.S.A.. 美利坚合众国常被缩略为U.S.A.。

22 repayment
n.偿还，偿还款；报酬
参考例句：
I am entitled to a repayment for the damaged goods.我有权利索取货物损坏赔偿金。 The tax authorities have been harrying her for repayment.税务局一直在催她补交税款。

23 query
n.疑问，问号，质问；vt.询问，表示怀疑
参考例句：
I query very much whether it is wise to act so hastily.我真怀疑如此操之过急地行动是否明智。 They raised a query on his sincerity.他们对他是否真诚提出质疑。

24 definitive
adj.确切的，权威性的；最后的，决定性的
参考例句：
This book is the definitive guide to world cuisine.这本书是世界美食的权威指南。 No one has come up with a definitive answer as to why this should be so.至于为什么该这样，还没有人给出明确的答复。

25 timing
n.时间安排，时间选择
参考例句：
The timing of the meeting is not convenient.会议的时间安排不合适。 The timing of our statement is very opportune.我们发表声明选择的时机很恰当。

26 authorized
a.委任的，许可的
参考例句：
An administrative order is valid if authorized by a statute.如果一个行政命令得到一个法规的认可那么这个命令就是有效的。

27 violations
违反( violation的名词复数 )；冒犯；违反（行为、事例）；强奸
参考例句：
This is one of the commonest traffic violations. 这是常见的违反交通规则之例。 These violations of the code must cease forthwith. 这些违犯法规的行为必须立即停止。

28 infringement
n.违反；侵权
参考例句：
Infringement of this regulation would automatically rule you out of the championship.违背这一规则会被自动取消参加锦标赛的资格。 The committee ruled that the US ban constituted an infringement of free trade.委员会裁定美国的禁令对自由贸易构成了侵犯

29 adversely
ad.有害地
参考例句：
We commented adversely upon the imbecility of that message of telegraphic style. 我们对着这条电报式的愚蠢的留言发泄了一通不满。 Widely fluctuating exchange rates may adversely affect international trade. 浮动幅度很大的汇率可能会对国际贸易产生有害的影响。

30 transgression
n.违背；犯规；罪过
参考例句：
The price can make an action look more like a transaction than a transgression.罚款让一个行为看起来更像是一笔交易而不是一次违法行为。 The areas of transgression are indicated by wide spacing of the thickness contours.那幢摩天大楼高耸入云。

31 imposing
adj.使人难忘的，壮丽的，堂皇的，雄伟的
参考例句：
The fortress is an imposing building.这座城堡是一座宏伟的建筑。 He has lost his imposing appearance.他已失去堂堂仪表。

32 revoked
adj.[法]取消的v.撤销，取消，废除( revoke的过去式和过去分词 )
参考例句：
It may be revoked if the check is later dishonoured. 以后如支票被拒绝支付，结算可以撤销。来自辞典例句 A will is revoked expressly. 遗嘱可以通过明示推翻。来自辞典例句

33 supplementary
adj.补充的，附加的
参考例句：
There is a supplementary water supply in case the rain supply fails.万一主水源断了，我们另外有供水的地方。 A supplementary volume has been published containing the index.附有索引的增补卷已经出版。

34 implemented
v.实现( implement的过去式和过去分词 )；执行；贯彻；使生效
参考例句：
This agreement, if not implemented, is a mere scrap of paper. 这个协定如不执行只不过是一纸空文。来自《现代汉英综合大词典》 The economy is in danger of collapse unless far-reaching reforms are implemented. 如果不实施影响深远的改革，经济就面临崩溃的危险。来自辞典例句

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