Overview of offshore banking units (November 2001)
Central Bank of China
PRESS RELEASE Release Date: December 29, 2001
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Overview of offshore banking units (November 2001)
At the end of November, 2001, there were 68 offshore banking units(OBUs)in
operation. Of these, 38 belonged to domestic banks and 30 belonged to foreign
banks. The combined assets of all OBUs amounted to US$54.071 billion at the end
of November, 2001; increased by US$6.652 billion or 14.03%compared with the same
month of the previous year. Domestic bank OBUs accounted for US$38.907 billion
or 72%of these combined assets, and foreign bank OBUs accounted for US$15.164
billion or 28%of the total.
Based on the balance sheet analysis, the OBU's main sources of funds were due to
related offices and deposits by financial institutions that accounted for 73%of
total liabilities. Of these, due to related offices accounted for 58%of total
liabilities, deposits by financial institutions situated locally for 9%, those
by financial institutions located overseas for 2%and inter-OBU deposits for 4%.
The other sources of funds included deposits by non-financial institutions
accounting for 23%of total liabilities and other liabilities plus the equity of
head office for 4%. In terms of the areas of origin, the main source of funds
was Asia that accounted for 77%, followed by America with 16%, Europe with 5%and
other areas with 2%.
The main uses of funds were due from related offices and deposits with financial
institutions that accounted for 60%of total assets, of which 28%was due from
related offices, 26%was deposited overseas, 2%with other domestic financial
institutions and 4%with domestic OBUs. The other uses of funds included loans
accounting for 29%of total assets, security investments for 8%and other assets
for 3%. Asia was the main destination of funds accounting for 63%, followed by
America with 23%, Europe with 12%and other areas with 2%.
The loans outstanding of all OBUs at the end of November, 2001, amounted to
US$15.497 billion, of which 80%was extended to oversea debtors, and 20%to local
debtors. Of this amount, long-term loans extended to oversea debtors accounted
for US$8.783 billion, followed by short-term loans extended to oversea debtors
with US$3.633 billion and loans extended to local debtors with US$3.081 billion.
The export banking business volume of all OBUs in November was US$2.608 billion.
Of this amount, export collection plus export remittance accounted for US$1.917
billion and export negotiation for US$0.691 billion.
The foreign exchange trading turnover of all OBUs in November was US$2.436
billion. Of this amount, spot transactions accounted for US$1.853 billion,
followed by foreign exchange swaps with US$0.498 billion and outright forwards
with US$0.085 billion.
The total trading turnover of the other new products of all OBUs in November was
US$1.660 billion. Of this amount, options accounted for US$1.121 billion,
followed by foreign currency interest rate swaps with US$0.369 billion, foreign
currency forward rate agreements with US$0.130 billion, margin account tradings
with US$0.036 billion, and financial futures with US$0.004 billion.