Examples of Bank of China in a sentence
You may also write to us at The Industrial and Commercial Bank of China (USA) NA, 0000 Xxxxxx xx xxx Xxxxxxxx, 00xx Xxxxx, Xxx Xxxx, XX 00000.
The interests are calculated at a floating rate and shall be adjusted with reference to the loan prime rate for loans with a maturity of above 5 years as promulgated by the National Interbank Funding Centre under the authority of the People’s Bank of China from time to time plus a premium.
While the People’s Bank of China (“PBOC”) has entered into agreements on the clearing of Renminbi business with financial institutions in Hong Kong, Taiwan and Singapore, and has established the Cross-Border Inter-Bank Payments System to facilitate cross-border Renminbi settlement and is further in the process of establishing Renminbi clearing and settlement mechanisms in several other jurisdictions, the current size of Renminbi-denominated financial assets outside Mainland China is limited.
Bank of China matches its fixed interest rate asset (your loan) with a fixed interest rate liability (the cost of funding your loan).
The interest rate applicable to the factoring facilities is 4.00%, being a rate on the day before facility payment date equivalent to the one year loan prime rate announced by the People’s Bank of China + 15 basic points (one basic point equal to 0.01%).