What Is a Euro Deposit?

Foreign exchange deposits are foreign exchange cash funds from foreign trade enterprises' import and export business income, which are deposited into national banks and paid as needed. When a foreign currency bank deposit business occurs, the foreign currency amount shall be converted into RMB for accounting, and the foreign currency amount and conversion rate shall be registered at the same time. When the foreign currency amount is converted into RMB for accounting purposes, the exchange rate on the market at the time of the transaction can be used as the conversion rate. ^[1]

Foreign exchange deposit

Foreign exchange deposits refer to various deposits in bank accounts expressed in convertible currencies. From the bank's perspective, foreign exchange deposits are cash, foreign currency bills or

From the perspective of deposit banks, the various foreign exchange deposits they absorb can be classified from different perspectives. The common ones are as follows:

Unit foreign exchange deposits and personal foreign exchange deposits

From the object of account opening, it can be divided into unit foreign exchange deposits and personal foreign exchange deposits.

1. Unit foreign exchange deposits refer to the various foreign exchange deposits deposited in China's designated foreign exchange banks by institutions, groups, and enterprises (including foreign resident agencies and foreign-invested enterprises) in China and overseas Chinese and foreign enterprises and groups.

2. Personal foreign exchange deposits refer to residents in China (including Chinese residents and foreigners in China, overseas Chinese, compatriots from Hong Kong, Macao and Taiwan, etc.) and China's foreign countries and Hong Kong, Macao and Taiwan regions to study, work, study, research, lecture, etc. Personnel and other individuals (such as foreigners living overseas or in Hong Kong, Macao and Taiwan regions, overseas Chinese and compatriots in Hong Kong, Macao and Taiwan) deposit various types of foreign exchange deposits in our designated foreign exchange banks in convertible currencies (foreign exchange and foreign currency).

At present, the Bank of China divides the above-mentioned units and individual foreign exchange deposits into foreign currency deposits of type A, foreign currency deposits of type B, foreign currency deposits of type C, and special deposits of foreign debts according to different requirements for deposit management. A type of foreign currency deposits and foreign debt deposits are mainly unit foreign exchange deposits, while type B foreign currency deposits and type C foreign currency deposits are mainly personal foreign exchange deposits. Except for the Bank of China, other designated foreign exchange banks operate foreign exchange deposits and do not classify them according to the classification standards of the Bank of China, that is, they are generally divided into unit foreign exchange deposits and personal foreign exchange deposits (savings deposits) based on the object of account opening.

Domestic and foreign exchange deposits

Interbank foreign exchange deposits can be divided into domestic interbank foreign exchange deposits and foreign interbank foreign exchange deposits depending on the location of the deposit object.

1. Domestic interbank foreign exchange deposits refer to various foreign exchange deposits of domestic financial institutions in the same industry. For example, various foreign exchange deposits in a foreign exchange deposit account opened by a non-bank financial institution in the Bank of China.

2. Foreign interbank foreign exchange deposits refer to foreign currency RMB or other convertible currency deposits deposited by foreign banks (including Chinese banks in foreign countries, Hong Kong and Macao regions) in designated foreign exchange banks in China.

At present, in addition to foreign currency Renminbi deposits, there are mainly US dollar deposits and British pound deposits. Except for U.S. dollar deposits, banks in other countries have to calculate interest on U.S. dollar deposits and overdrafts in designated foreign exchange banks in China; foreign exchange RMB account deposits do not carry interest, and overdrafts carry interest; sterling deposits and overdrafts have interest. The opening of such deposit accounts is generally controlled by the head office, and the head office accepts account opening and accounting.

Fixed foreign exchange deposits and current foreign exchange deposits

Divided by the term of the deposit, it can be divided into fixed foreign exchange deposits and current foreign exchange deposits.

1. Fixed-term foreign exchange deposits refer to the foreign exchange deposits that deposit banks and customers have agreed to withdraw until a certain fixed time. At present, fixed-term foreign exchange deposits are mainly made in the form of whole deposits and withdrawals. When foreign exchange deposits are made to banks, the bank develops registered deposit certificates based on the amount of deposits and gives them to units or individuals. (Currently, there are four levels of 3 months, half a year, 1 year, or 2 years. Deposits can be renewed at maturity; Bank of China's time deposits for foreign-invested enterprises and domestic financial institutions are divided into 7 days notice, 1 month, 3 Month, 6 months, 1 year, and 2 years), and the payment is due on the deposit certificate.

2. Current foreign exchange deposits are divided into checking account deposits and passbook account deposits according to different access methods. Checking accounts are deposited by sending notes or other receipts, and are drawn by cheques or other payment receipts. Import margin accounts opened in banks and special foreign debt account deposits opened in banks by companies borrowing foreign debts, etc., belong to this type of checking account deposits; passbook account deposits are accessed by passbooks and deposit receipts, such as Individual current foreign exchange deposits belong to this type of passbook account.

Foreign currency deposits and foreign exchange deposits

According to the different forms of deposited funds, it can be divided into foreign currency account deposits and foreign exchange account deposits.

Foreign currency bank deposits are foreign currency cash deposits. In this type of deposit, customers can generally withdraw foreign currency cash at any time, but after depositing for 3 months, they can entrust a deposit bank to buy and exchange foreign currency as required Sell procedures are remitted. Foreign exchange deposits can be directly remitted by a deposit bank according to relevant regulations. Unit foreign exchange deposits are generally foreign exchange deposits, while personal foreign exchange deposits are different from foreign exchange deposits and foreign currency deposits.