Notice of the Ministry of Finance on Several Issues Concerning the Operation and Management of Financial Asset Management Companies

财政部关于金融资产管理公司经营管理若干问题的通知

Promulgating Institution: Ministry of Finance

Document Number: Cai Jin [2001] No. 27

Promulgating Date: 02/07/2001

Effective Date: 02/07/2001

颁布机关: 财政部

文      号: 财金[2001]27号

颁布时间: 02/07/2001

实施时间: 02/07/2001

With a view to further enhancing the coordinated administration between cost accounting and asset disposal, several issues concerning the operation and management of financial asset management companies are hereby notified as follows: 

    为了进一步加强成本核算和资产处置的协调管理,现就金融资产管理公司经营管理中的若干问题通知如下:

1. Financial asset management companies and State-owned banks may calculate interest on a quarterly basis on the financial bonds not yet approved for issuance based on the aggregated bond issuance volume and interest rate determined by the State Council, with the value dates to be temporarily determined by mutual agreement between financial asset management companies and State-owned banks through consultation. After the financial bonds are officially issued, the value dates thereof shall be determined in accordance with uniform standards.

       一、金融资产管理公司和国有银行对尚未批准发行的金融债券,可以按国务院已经确定的发债总额和利率,按季计息;起息日暂按金融资产管理公司和国有银行已经协商一致的原则确定,金融债券正式发行后,按统一规定执行。

2. In accordance with the principle of unity between ownership and the right to proceeds, interest incomes from non-performing assets peeled off to financial asset management companies shall belong to the financial asset management companies. State-owned banks shall transfer all interest incomes that they receive in respect of the disinvested creditor's rights to the financial asset management companies, without charging any service fee in any name whatsoever.

       二、根据所有权和收益权相统一的原则,对已经剥离到金融资产管理公司的不良资产,其利息收入应归金融资产管理公司所有。国有银行应将收到的已经剥离债权的利息收入全部划拨给金融资产管理公司,不得以任何名义收取手续费。

3. Financial asset management companies may pay an agency disposal fee at the rate of 1% when entrusting relevant financial institutions with the disposal of non-performing assets in accordance with applicable provisions. Payment of the agency disposal fee shall comply with the following provisions: 

(1) the entrusting party shall calculate and pay the agency disposal fee based on the total amount of cash recovered from asset disposal by the agent; and 

(2) the agent may not directly deduct the agency disposal fee from the cash recovered from the disposal. 

       三、金融资产管理公司按规定委托有关金融机构处置不良资产,可支付1%的代理处置手续费。支付手续费必须符合以下规定:

    (一)委托方必须以代理方处置资产回收的现金总额为基数,计算支付代理处置手续费。

    (二)代理方不得在处置回收的现金中,坐支代理处置手续费。

4. A financial asset management company, when entrusting an agent with the disposal of non-performing assets, shall comply with the principle of the recovered value being higher than the disposal cost. In other words, the recovered value shall be sufficient to pay off the direct expenses, including the agency disposal fee, and court fees, notarial fee, asset preservation fee and auctioneer's fee arising out of the asset disposal process, and shall have surplus thereafter.

       四、金融资产管理公司委托处置不良资产时,必须遵守回收价值大于处置成本的原则,即回收的价值应足以支付代理处置手续费和代理处置过程中发生的诉讼费、公证费、资产保全费和拍卖费等直接费用,并应有结余。

5. Prior to the promulgation by the Ministry of Finance of the appraisal measures for financial asset management companies, a financial asset management company may not set aside bonus funds at its discretion outside the payroll verified by the Ministry of Finance. Any financial asset management company that has set aside or paid bonus funds in violation of the said provision shall adopt corrective measures promptly.

       五、在财政部对金融资产管理公司的考核办法未出台前,金融资产管理公司不得在财政部核定的职工工资总额外,自行提取奖励资金。对违反规定提取或开支奖励资金的行为,要立即自行纠正。

6. Financial asset management companies shall treat the investment projects of trust & investment companies under solely State-owned commercial banks, which are appropriated upon approval by the Ministry of Finance, as State-owned capital, listed the same independently under the account of State-owned capital, and progressively dispose of and recover the same.

       六、对经财政部批准划拨的原国有独资商业银行所属信托投资公司的投资项目,金融资产管理公司应作为国家资本,在国家资本项下单独反映,并逐步处置回收。

7. Financial asset management companies shall faithfully list and disburse expenditure in accordance with the average annual staff numbers, subject to the quota of annual staff expenses as verified by the Ministry of Finance. Financial asset management companies shall not falsely increase headcount or the quota of staff expenses. Collective staff welfare expenditures covered in the staff expenses, such as staff welfare allowance, employee education expenses, trade union outlay and social insurance premiums shall be handled in accordance with uniform provisions of the State, and may not be disbursed to individual employees in any manner. Salaries, bonuses, allowances and subsidies paid to individual employees shall be handled strictly in accordance with the standards verified by the Ministry of Finance. Unruly payment of bonuses, allowances and subsidies in whatsoever name is strictly prohibited.

       七、金融资产管理公司应在财政部核定的年度人员费用指标内,按年平均人数据实列支。不得虚增编制、虚增人员费用指标。对人员费用中的职工福利费、职工教育经费、工会经费和社会保险费等用于职工集体福利性支出的,应按国家统一规定执行,不得以任何形式发放给个人。发放给个人的职工工资、奖金、津贴和补贴,应严格按财政部核定的标准执行,不得以任何名义乱发奖金、津贴和补贴。

8. Prior to the promulgation by the Ministry of Finance of the measures for audit of annual accounting statements of financial enterprises by certified public accountants (CPA), the CPA audit system shall temporarily not be applicable to annual accounting statements of financial asset management companies.

       八、在财政部关于金融企业年度会计报表注册会计师审计办法未出台前,金融资产管理公司的年度会计报表暂不实行注册会计师审计制度。

9. Financial asset management companies and solely State-owned banks shall speed up the transfer of State-owned capital, and actively cooperate with each other in strict accordance with the Supplementary Notice on Issues Concerning the Transfer of Capital to Asset Management Companies (Cai Jin [2000] No. 44) of the Ministry of Finance to ensure the implementation of various State policies.

       九、金融资产管理公司和国有独资商业银行应加快国家资本划转工作的进度,要严格按照财政部《关于资产公司资本划转有关问题的补充通知》(财金〔2000〕44号)文件的要求,积极配合,确保国家各项政策的落实。

10. All financial asset management companies shall effectively implement the Notice on Printing and Distributing the "Administrative Measures for Asset Disposal by Financial Asset Management Companies" (Cai Jin [2000] No. 122) of the Ministry of Finance, and formulate their respective detailed rules of implementation as soon as possible. The means to dispose of assets and disposal schemes shall be examined and approved in accordance with the stipulated procedures and authorities.

       十、要认真贯彻财政部《关于印发〈金融资产管理公司资产处置管理办法〉的通知》(财金〔2000〕122号)精神,并尽快制定本公司具体实施的细则。对资产处置的形式、处置方案的审批等,应按规定的程序和权限办理。

11. With a view to avoiding malicious price competition, maximizing the recovery of non-performing assets and reducing asset losses, where disposal of non-performing assets involves any enterprise debtor that owes debts to two (2) or more financial asset management companies, the financial asset management companies concerned shall enhance communication and coordination among themselves, seek to reach consensus among themselves and refrain from vicious competition. Meanwhile, external negotiations shall be led by the biggest creditor company.

       十一、为避免竞相压价,最大限度地回收不良资产,减少资产损失,金融资产管理公司处置不良资产中,凡一家借款企业的债务涉及两家或两家以上金融资产管理公司债权的,金融资产管理公司之间,必须加强沟通和协调,由最大债权公司牵头对外谈判,协调一致,不得相互之间发生恶性竞争。