(1) Its net assets and capital adequacy ratio meet the requirements;
(2) Having a special fund custody department;
(3) The number of full-time personnel who have obtained the qualification for fund practice has reached a quorum;
(4) Having the conditions for safe custody of the fund property;
(5) Having a safe and efficient clearing and delivery system;
(6) Having business premises, safety precautions and other facilities related to the fund custody business that meet the requirements;
(seven) a sound internal audit monitoring system and risk control system;
(8) Other conditions as prescribed by laws and administrative regulations, and as prescribed by the State Council securities regulatory agency and the State Council banking regulatory agency approved by the State Council.
Legal basis: Measures for the Administration of Custody of Securities Investment Funds
Article 2 Custody of securities investment funds (hereinafter referred to as funds) as mentioned in these Measures refers to the behavior of commercial banks or other financial institutions with fund custody qualifications established according to law as custodians, and in accordance with the provisions of laws and regulations and the provisions of fund contracts, they perform the duties of safe custody of fund property, clearing and settlement, net asset value review, investment supervision, and convening fund share holders' meetings.
Article 3 Commercial banks engaged in fund custody business shall be approved by China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) and China Banking Regulatory Commission (hereinafter referred to as China Banking Regulatory Commission), and shall obtain the qualification of fund custody according to law. Other financial institutions engaged in fund custody business shall be approved by the China Securities Regulatory Commission and have obtained the qualification of fund custody according to law. Institutions that have not obtained the qualification for fund custody shall not engage in fund custody business.