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PSBC authorized to provide securities registration and settlement services
PSBC authorized to provide securities registration and settlement services
| China Post |2019-11-20

On November 13, the Postal Savings Bank of China (PSBC) was authorized to provide securities registration and settlement services by China Securities Depository and Clearing Corporation Limited (CSDC). This is another breakthrough of PSBC in the field of financial institution fund depository, following the acquisition of the qualifications for securities third-party depository service and futures margin depository service designated by the Dalian Commodity Exchange.

The settlement banking services include capital operation services involved in special accounts for deposit reservation for balance, special capital verification accounts for A-share IPOs, special accounts for offline issuance of IPO stocks, special accounts for dividend payout, and other services such as cross-border capital settlement and option capital settlement approved by CSDC. Next, PSBC will carry out comprehensive business and system docking with CSDC to promote the efficient development of corporate, retail, custody, depository and other services throughout the bank, participate more in the development of capital market, and further boost its interbank services.

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