Foreign Exchange Business

Corporate Foreign Exchange Time Deposit

  Introduction

  The Corporate Foreign Exchange Time deposit is a fixed-term foreign exchange deposit with BANK OF KUNLUN by domestic entities or foreign institutions in China, with principal and interest to be withdrawn in a lump sum upon expiration.

  Deposit terms available for Corporate Foreign Exchange Time Deposit include one month, three months, six months, one year and etc.

  Function

  Relatively stable return;

  More interest income than demand deposit;

  Appreciation of foreign exchange funds

  Target Clients

  Corporate and institutional customers.

  Business Process

  The Business Process is basically the same as that of Corporate Time Deposit, except that:

  1) The currency is denominated in foreign exchange

  2) Differentiated interest rates for different amounts of deposit. For retail deposits with less than USD 3,000,000 and its equivalents, the interest rates designate by PBOC will be applied. For wholesale deposits with more than USD 3,000,000 and its equivalents, floating rates can be applied after confirming them with the customers. The floating range should be approved by higher-level branches.

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