Article 2 Guarantee funds refer to private mutual funds raised by market participants in the trust industry in accordance with the provisions of these Measures to resolve and deal with risks in the trust industry.
Article 3 China Trust Industry Guarantee Fund Co., Ltd. (hereinafter referred to as the guarantee fund company) is established as the guarantee fund manager, and is responsible for the collection, management and use of the guarantee fund according to law.
Article 4 The Security Fund shall establish a Council (hereinafter referred to as the Fund Council), which shall be responsible for deliberating and making decisions on major issues concerning the collection, management and use of the Security Fund.
Article 5 The risk disposal of the trust industry shall follow the principle of the seller's due diligence and the buyer's own responsibility, give play to the decisive role of the market mechanism, and prevent moral hazard. On the premise that the trust company performs its duties, the loss of value of the trust products shall be borne by the investors themselves.
Chapter II Maintenance of Fund Companies and Fund Councils
Article 6 A guarantee fund company shall be established by china trustee association United Trust Company and other institutions.
A securities fund company shall establish a board of directors in accordance with the law, with the chairman as the legal representative, which shall be approved by the the State Council Banking Regulatory Authority and submitted to the State Council for approval.
A securities fund company shall formulate articles of association in accordance with the Company Law of People's Republic of China (PRC) and these Measures, which shall be audited by the banking regulatory institution of the State Council and reported to the State Council.
Article 7 A guarantee fund company takes the management of the guarantee fund as its main duty, and the resolution and disposal of trust risks as its main task and goal.
Article 8 As a securities fund manager, a securities fund company shall perform the following duties:
(a) responsible for collecting security funds and accounting for the subscription of security funds;
(two) responsible for the management of the security fund, liquidation and payment of the principal and income of the security fund;
(three) responsible for the use of guarantee funds to participate in the disposal of trust risks, accounting for the use and repayment of guarantee funds;
(four) responsible for the daily use of security funds.
Article 9 A guarantee fund company shall improve its corporate governance structure, strengthen internal control management, ensure smooth operation, and earnestly perform the duties of raising, managing, using and daily using the guarantee fund. The losses caused by the securities fund company's failure to perform its duties shall be borne by the securities fund company.
In addition to market-oriented participation in trust risk disposal, the investment of guarantee fund companies is mainly limited to bank deposits, interbank lending, purchase of government bonds, central bank bonds (bills), financial bonds, money market funds, and other investment channels approved by the State Council Banking Regulatory Authority and the Ministry of Finance.
Article 10 A securities fund company shall establish an information sharing mechanism with the banking supervision institution of the State Council.
Securities fund companies have the obligation to keep confidential all non-public information they know.
Article 11 The Fund Council shall be organized and established by china trustee association in accordance with the principle of marketization, and the directors shall be recommended by china trustee association and established with the consent of more than half of the trust companies in the industry.
The Fund Council shall formulate rules of procedure in accordance with these Measures.
Article 12 The Fund Council shall perform the following duties:
(a) to consider the rules and standards for raising decision-making guarantee funds;
(two) to consider the use plan of the decision-making guarantee fund according to these measures;
(three) to consider the allocation plan of the decision-making guarantee fund;
(4) Supervise the raising, management and use of securities funds by securities fund companies, and consider the standards for collecting management fees by securities fund companies.
The Fund Council shall report to the the State Council Banking Regulatory Authority on the major issues in its decision-making and the performance of its duties. Thirteenth sources of security funds:
(1) Funds raised in accordance with the provisions of Article 14 of these Measures;
(two) the net income from the use of the security fund;
(three) donations from other institutions, organizations and individuals at home and abroad;
(4) Other sources approved by the the State Council Banking Regulatory Authority and the Ministry of Finance.
Article 14 The following unified standards shall be applied to the subscription of guarantee funds in the current period, and differentiated subscription standards shall be applied according to the risk status of trust companies when conditions are ripe:
(1) Trust companies subscribe at 65,438+0% of the net asset balance, and dynamically adjust the net asset balance at the end of last year before the end of April every year;
(2) The fund trust shall be subscribed at 65,438+0% of the newly issued amount, among which: the trust company shall subscribe for the investment fund trust for purchasing standardized products; If it belongs to a financing fund trust, it shall be subscribed by the financier. At the end of the issuance of each fund trust product, it will be paid into the special fund account of the trust company, and the trust company will pay it to the protection fund company quarterly;
(3) The newly established property trust shall be calculated at 5% of the remuneration collected by the trust company and subscribed by the trust company.
Article 15 If the fund balance of a trust company is insufficient to meet the requirements of Article 14 of these Measures, it shall be supplemented in accordance with the provisions.
Article 16 A securities fund company shall classify the assets of the securities fund and all the assets of the securities fund company as entrusted assets and self-owned assets respectively, and carry out separate management and accounting.
Seventeenth security funds should be established in accordance with the principle of security.
Article 18 In addition to the scope of use specified in Article 19 of these Measures, the daily use of the guarantee fund is mainly limited to bank deposits, interbank lending, purchase of government bonds, central bank bonds (bills), financial bonds, money market funds, and other ways of using funds approved by the the State Council Banking Regulatory Authority and the Ministry of Finance. Article 19 A securities fund company may use securities funds under any of the following circumstances:
(a) the trust company needs to be reorganized after the implementation of the recovery and disposal plan due to insolvency;
(2) The trust company has entered bankruptcy proceedings and been reorganized according to law;
(3) The trust company is ordered to close down or cancel due to illegal operation;
(four) the trust company needs to provide short-term liquidity support because of the difficulty in temporary capital turnover;
(five) other circumstances that require the use of the security fund.
Article 20 In case of any of the circumstances mentioned in Items (1), (2) and (3) of Article 19 of these Measures, the guarantee fund company shall formulate a disposal plan according to the identification and disposal principles of the relevant competent authorities and report it to the fund board for approval before implementation.
Article 21 In the case of Item (4) of Article 19 of these Measures, the trust company shall apply to the guarantee fund company, submit the scheme to solve the liquidity difficulties and the repayment plan of the guarantee fund, and the guarantee fund company shall examine and decide whether to use the guarantee fund.
Where a trust company uses a guarantee fund, it shall apply to the guarantee fund company. Both parties shall negotiate the conditions for the use of the fund according to the amount and duration of the use of the guarantee fund, sign a contract for the paid use of the fund, go through the legal and effective guarantee procedures, and stipulate the relevant supervision terms and the rights and obligations performed by both parties according to law.
Article 22 In case of Item (5) of Article 19 of these Measures, the guarantee fund company shall formulate a plan and report it to the fund board for approval before implementation.
Twenty-third when the balance of the security fund is reduced due to the use, the public accumulated part of the retained net income over the years should be deducted first. After deducting the accumulated part of the company, the net assets at the end of the previous year are the weight, and the fund balance of each trust company is deducted. Article 24 If the net rate of return of the security fund after deducting daily expenses is higher than the national benchmark interest rate for one-year deposits, the proceeds will be distributed to subscribers such as trust companies and financiers according to the national benchmark interest rate for one-year deposits, and the rest will be included in the fund balance. When the net rate of return is lower than the national one-year deposit benchmark interest rate, the securities fund company will put forward the income distribution plan and report it to the fund board for consideration.
Twenty-fifth trust companies subscribe for trust funds according to the balance of net assets and new property, and their principal and income are guaranteed by the fund company and the trust company on an annual basis.
The principal and income of the guarantee fund subscribed by the investment fund trust and financing fund trust shall be settled with the trust company every quarter by the guarantee fund company. When each trust product is liquidated, the trust company pays the principal and income to its subscribers. If the trust products are liquidated in the middle of the quarter, the trust company shall pay in advance.
Article 26 A trust company shall set up a special account for the guarantee fund, which shall be used for accounting the funds of the subscribers of the guarantee fund and their due income, and truly record the receipt and payment of the guarantee fund. The trust company shall check the balance, change and payment of funds subscribed for the protection fund with the protection fund company every quarter. Article 27 The the State Council Banking Regulatory Authority shall, jointly with the Ministry of Finance, supervise the raising, management and use of guarantee funds.
The State Council banking supervision institutions shall, in combination with the characteristics of guarantee fund companies and the regulatory requirements of the trust industry, formulate specific measures for the supervision and management of guarantee fund companies and strengthen the supervision and management of guarantee fund companies.
Article 28 A securities fund company shall establish a reporting system, compile the information on the raising, management and use of securities funds on an annual basis, and submit it to the the State Council Banking Regulatory Authority and the Ministry of Finance after being audited by an external audit institution.
The security fund company shall disclose the collection, management and use of the security fund and other relevant information to the trust company on an annual basis.
Article 29 The banking supervision institution of the State Council shall report the raising, management and use of guarantee funds to the State Council every year.
Thirtieth security fund companies, trust companies and their custody and clearing institutions shall properly keep the original vouchers such as payment vouchers and payment lists of security funds to ensure the integrity of the original files.
Article 31 The banking supervision institution of the State Council shall strengthen the supervision and management of subscription and use of protection funds, and deal with trust companies that refuse or deliberately delay subscription of protection funds and fail to submit information and materials as required.
Article 32 The banking supervision institution in the State Council shall establish an accountability mechanism in accordance with relevant laws and regulations, and investigate the responsibilities of risk institutions and their responsible persons who receive assistance from the security fund for illegal operations according to law.
Thirty-third the State Council banking supervision institutions severely crack down on illegal acts of misappropriating, embezzling or defrauding guarantee funds, and investigate the responsibilities of relevant personnel for dereliction of duty according to law. Anyone suspected of committing a crime shall be transferred to judicial organs for criminal responsibility according to law. Article 34 The liquidation of the guarantee fund and the dissolution of the guarantee fund company must be approved by the State Council.
Article 35 These Measures shall be interpreted by the the State Council Banking Regulatory Authority in conjunction with the Ministry of Finance.
Article 36 These Measures shall come into force as of the date of promulgation.