1 thought on “kameleon jewelry wholesale The difference between FTN account and NRA account”
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story by davinci jewelry wholesale FTN is a free trade account launched by the Shanghai Free Trade Zone. NRA is a domestic foreign exchange account opened by domestic banks for overseas institutions. 1.ftn: Free Trade Non-Resident, a free trade account of overseas institutions, referred to as FTN, that is, non-resident free trade account FTN is a type of FT account in the Shanghai Free Trade Zone. The Shanghai Free Trade Zone has been listed since September 2013. Established, the financial sector was officially launched in the FTN account. In 2009, the Foreign Management Bureau issued the "Notice on the Management of Foreign Exchange Accounts of Overseas Institutions" in 2009. Since the beginning, Chinese and foreign banks in domestic and foreign banks can open foreign exchange accounts for overseas institutions (foreign currency NRA accounts) expansion information: 1.A and NRA systems are more biased towards shore management. Banks can use the deposit that NRA accounts absorbed in the country and also need to pay the deposit reserve. Previously, the scale was mainly controlled through short debt indicators, because foreign currency NRA occupied the scarce short debt quota of the bank, and the RMB NRA did not take up the amount, which made the scale of foreign currency NRA funds limited. List the local and foreign currency NRA deposits into exemption, so that banks can absorb more overseas funds for domestic. B, NRA RMB accounts for NRA RMB accounts are currently mainly reflected in many regulations related to cross -border RMB. Overall is relatively loose, mainly to encourage innovation, and match the mainstream guidance of the RMB internationalization. c, unlike the NRA foreign currency account, the foreign institution opens the NRA RMB account for the first time. After the domestic bank shall be approved by the People's Bank of China where the account opening application and the account opening information are reported, the basic deposit account will be issued for overseas institutions. The account also implements an annual inspection system. D, in the use of the NRA RMB account, the income scope of the NRA RMB account at this stage mainly includes the renminbi settlement income under regular projects, the policy clearly allowed or approved capital items, and the RMB financing funds of cross -border trade. Wait; and the expenditure scope of the NRA RMB account includes the domestic RMB settlement expenditure under regular projects, the policy clearly allowed or approved capital projects, and the return of cross -border trade RMB financing interest and financing funds. e, you need to pay special attention to that the NRA RMB account is different from the foreign account of the same name and the collection from the NRA RMB account of the same name. If the NRA RMB account handles RMB from the same name, although it does not belong to the concept of cross -border RMB settlement, domestic banks should also implement the three principles of the exhibition industry. It is necessary to conduct substantial review of their transaction authenticity before they can be processed. And if the NRA RMB account is handled from the NRA RMB account of the same name, the domestic bank can directly go through the procedures of the account after confirming the authenticity. F, in terms of capital transfer of the NRA RMB account, the capital income and expenditure between the domestic institutions and the NRA RMB account shall be handled in accordance with the relevant regulations of the RMB cross -border transaction management, and the NRA RMB account is transferred overseas, and NRA The transfer between the RMB accounts can be directly handled according to the instructions of the overseas institutions (except for the other regulations). 2.FTN system can be understood as special shore management. Although it is also accountable, its funds should be derived from the district or overseas, but in order to increase the advantages and liquidity of FTN, FTN funds allow FTN funds to be within a certain amount. Explore by the head office. This makes the cost of FTN's funding cost, because if the cost of domestic market funds is low, it can be borrowed from the mother bank. On the contrary, if the cost of funds for overseas markets is low, it can be borrowed from overseas. (However, the overdraft limit of the head of the bank also faces some guidance and there is uncertainty)
story by davinci jewelry wholesale FTN is a free trade account launched by the Shanghai Free Trade Zone. NRA is a domestic foreign exchange account opened by domestic banks for overseas institutions.
1.ftn: Free Trade Non-Resident, a free trade account of overseas institutions, referred to as FTN, that is, non-resident free trade account FTN is a type of FT account in the Shanghai Free Trade Zone. The Shanghai Free Trade Zone has been listed since September 2013. Established, the financial sector was officially launched in the FTN account. In 2009, the Foreign Management Bureau issued the "Notice on the Management of Foreign Exchange Accounts of Overseas Institutions" in 2009. Since the beginning, Chinese and foreign banks in domestic and foreign banks can open foreign exchange accounts for overseas institutions (foreign currency NRA accounts)
expansion information: 1.A and NRA systems are more biased towards shore management. Banks can use the deposit that NRA accounts absorbed in the country and also need to pay the deposit reserve. Previously, the scale was mainly controlled through short debt indicators, because foreign currency NRA occupied the scarce short debt quota of the bank, and the RMB NRA did not take up the amount, which made the scale of foreign currency NRA funds limited. List the local and foreign currency NRA deposits into exemption, so that banks can absorb more overseas funds for domestic.
B, NRA RMB accounts for NRA RMB accounts are currently mainly reflected in many regulations related to cross -border RMB. Overall is relatively loose, mainly to encourage innovation, and match the mainstream guidance of the RMB internationalization.
c, unlike the NRA foreign currency account, the foreign institution opens the NRA RMB account for the first time. After the domestic bank shall be approved by the People's Bank of China where the account opening application and the account opening information are reported, the basic deposit account will be issued for overseas institutions. The account also implements an annual inspection system.
D, in the use of the NRA RMB account, the income scope of the NRA RMB account at this stage mainly includes the renminbi settlement income under regular projects, the policy clearly allowed or approved capital items, and the RMB financing funds of cross -border trade. Wait; and the expenditure scope of the NRA RMB account includes the domestic RMB settlement expenditure under regular projects, the policy clearly allowed or approved capital projects, and the return of cross -border trade RMB financing interest and financing funds.
e, you need to pay special attention to that the NRA RMB account is different from the foreign account of the same name and the collection from the NRA RMB account of the same name. If the NRA RMB account handles RMB from the same name, although it does not belong to the concept of cross -border RMB settlement, domestic banks should also implement the three principles of the exhibition industry. It is necessary to conduct substantial review of their transaction authenticity before they can be processed. And if the NRA RMB account is handled from the NRA RMB account of the same name, the domestic bank can directly go through the procedures of the account after confirming the authenticity.
F, in terms of capital transfer of the NRA RMB account, the capital income and expenditure between the domestic institutions and the NRA RMB account shall be handled in accordance with the relevant regulations of the RMB cross -border transaction management, and the NRA RMB account is transferred overseas, and NRA The transfer between the RMB accounts can be directly handled according to the instructions of the overseas institutions (except for the other regulations).
2.FTN system can be understood as special shore management. Although it is also accountable, its funds should be derived from the district or overseas, but in order to increase the advantages and liquidity of FTN, FTN funds allow FTN funds to be within a certain amount. Explore by the head office. This makes the cost of FTN's funding cost, because if the cost of domestic market funds is low, it can be borrowed from the mother bank. On the contrary, if the cost of funds for overseas markets is low, it can be borrowed from overseas. (However, the overdraft limit of the head of the bank also faces some guidance and there is uncertainty)