Significant Changes! A Comprehensive Analysis of the Latest RCPMIS Ⅱ Report Standards!
Recently, the message specification of the second-generation interface for the Cross-border RMB Payment and Collection Information Management System has been newly adjusted. RIKING has conducted analysis and summary on the key points of the latest message specification.
Key Points of the Message Adjustment
I. Data Item Adjustment
The code value adjustment involves 13 code values. For example, in Appendix A.1.8, the business category code has been updated as follows: new codes added include 100021 - New Offshore Business, 700091 - Other Domestic Securities Investment, 700092 - Other Foreign Securities Investment, and 700101 - Swap Connect; existing codes have been modified, such as 200012 - New Forms of Foreign Trade, 700022 - Direct Investment in China's Bond Market, 700041 - QFII/RQFII, and 800031 - Foreign Loans.
In Appendix A.1.28, which pertains to the types of foreign entities, the following additions have been made: "A307 - Finance Company," "A308 - Futures Company," "A309 - Trust Investment Company," "A310 - Financial Asset Management Company," and "A311 - Other Financial Institutions."
2.Code Value Adjustment
The code value adjustment involves 13 code values. For example, in Appendix A.1.8 Business Category Code, the following have been added: 100021 - New Offshore Business, 700091 - Other Domestic Securities Investment, 700092 - Other Foreign Securities Investment, and 700101 - Swap Connect; the following have been modified: 200012 - New Forms of Foreign Trade, 700022 - Direct Investment in China's Bond Market, 700041 - QFII/RQFII, and 800031 - Foreign Loans.
In Appendix A.1.28 Types of Foreign Entities, the following have been added: "A307 - Finance Company," "A308 - Futures Company," "A309 - Trust Investment Company," "A310 - Financial Asset Management Company," and "A311 - Other Financial Institutions."
3.Adjustment of Document Issuance Rules
The adjustment of document issuance rules involves 19 forms and a total of 35 validation rules. For example, the validation rule for the "financing contract filing number" in the cross-border expenditure information (2111) has been adjusted: it is mandatory when the international balance of payments transaction code is 621021, 621022, 622021, 622022, 623021, or 623022 and the business category code is not "600011 - Fund Pool", or when the international balance of payments transaction code is 821020 or 822020. The financing contract filing number must exist in the "cross-border credit financing business information" (validated during addition and modification, but not during deletion).
For the cross-border wealth management connectivity business filing information (2151), the uniqueness validation of "foreign document type + foreign document number" has been modified to "institution type + foreign document type + foreign document number". The complete validation rule is: when the filing status is not "revocation", the combination of institution type + foreign document type + foreign document number must be unique (validated during addition and modification, but not during deletion).
4.Go-live Time
Effective from the date of issuance of the notice.
PBOC RCPMIS Ⅱ RMB Cross-border Payment & Receipt Management Information System II
The "Second Generation Cross-border RMB Payment and Collection Information Management System" (hereinafter referred to as RCPMIS II) integrates the characteristics of banks' core business systems to achieve automated data extraction of the source data of cross-border RMB transaction business. After being processed by various business reporting sub-modules and configurable validation rules within the system, the data is converted into standardized information that meets regulatory reporting requirements. It then generates compliant reporting files, which are finally transmitted to the People's Bank of China's DEMP platform through a dedicated communication channel. The system also provides standardized process management for the entire process of data entry and review permissions, minimizing the risks associated with reporting data and significantly reducing the reporting costs for financial institutions, thereby achieving high efficiency and precision.
Product Features
Comprehensive regulatory data model
Mature and stable system
Strict A/B role review mechanism
Ensuring rapid joint debugging and go-live
Flexible product design model
Complete functional modules
Stable disaster recovery mechanism
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RIKING Digital Technology (Shanghai) Co., Ltd. is a well-known financial supervision and compliance software solution provider in the financial industry. Founded in August 2013, it has been deeply engaged in the field of regulatory technology for more than 12 years, providing one-stop regulatory compliance consulting and software solutions covering the whole process of regulatory data governance, data mart, risk and compliance management, credit investigation, anti-money laundering and Basel III liquidity risk control for the world's leading financial institutions.Welcome to call us 4009210806.
