Borrowing with valuable notes as collateral security
Created on 15/3/2010
Updated at 12/8/2010
This service is only applicable to Operations Centre of the State Bank. The State Bank gives loan to Agribank based on the valuable notes that Agribank uses as collateral.
Agribank has to open an account and
deposit valuable notes at Operations Centre of the State bank.
Mortgaging limit: is the maximum
mortgaged loan amount from the State bank that Agribank can be given per
quarter or per year.
Mortgaging interest rate: to be
fixed by the State bank and will be adjusted subject to the monetary policy in
Default interest: up to 150% of
applicable pledge interest rate in certain period.
Agribank is not in special control condition.
Agribank hasn’t had outstanding debts at the
Agribank has to follow the rule of
Agribank has request of credit
Assets used in pledge: Government
securities, government bond
An application of request of credit
Balance sheet including report of
financial condition and capital spending at the correlative time.
List of valuable notes used in
Other documents related to prove
valuable notes available.
valuable notes under these conditions:
Agribank is the beneficiary of
valuable notes (for bearer valuable notes) or the legal holder (Subject to …
Allowed to mortgage, pay for the
State bank on behalf of the third party according to undertaking of the
If valuable notes .., they require a
confirmation and assurance of the organization having obligation to payment in
which the organization shall commit to pay in case Agribank can not do its
If valuable notes are long term
notes, the remained time of these notes can raise up to maximum 2 years.
Repayment of principal amount and
interest: Agribank shall repay principal amount and interest under conditions
as stipulated in its undertaking. The state bank shall not extend maturity date
for mortgage loans.
Discount method: directly go to
Operations Centre of the State bank and
provide “Request of valuable notes discount”
Transactions are completed through
Reuters Dealing System, fax…
After transactions are approved,
data will be entered into IPCAS by FX Managing Department
Loss limit in forex dealing of
Agribank’s Operations Centre is decided by Chairman of Board of Directors.
Transaction principle: safe,
effective, subject to FX dealing limit and ensure liquidity of the Agribank and
maintain foreign currency balance adapted to the Sate bank’s rule for a certain
Contact FX managing Department of
Agribank’s Operations Centre.