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Announcement on the Resolutions of the 23rd Meeting of the 4th Session BOD

2008-12-17

 

The 23rd meeting of the 4th session Board of Directors of the Bank was convened by mail voting on December 15, 2008. All 18 meeting notices, sent out via email on December 5, 2008 were collected. The meeting complied with the rules and regulations under the Company Law and the Articles of Association and the resolutions made were legal and effective.

 

The meeting reviewed and passed the following resolutions:

 

Ⅰ. Establishing Development Planning Department, which is responsible for comprehensive researches and development planning including development strategy research, macro-economy research, and fundamental research of financial institutions, mid- and long-term planning, process-based banking construction, organization planning, delegation of authority management, organization efficiency evaluation and management of operation process,.

 

Ⅱ. Removing the Planning and Treasury Department and the Accounting and Settlement Department, and set up Asset and Liability Management Department, Financial Accounting Department and Operation Management Department on the basis of integration of functions of the former Planning and Treasury Department and Accounting and Settlement Department.

 

The Asset and Liability Management Department is responsible for the management of total amount and structure of the Bank's assets and liabilities, the managements of liquidity, position, capital, interest rate, exchange rate and price, and the mid-term evaluation of business units.

 

The Financial Accounting Department is responsible for the establishment of the financial budget, operational plans and financial budget of business units of the entire bank, evaluation of business units, establishment of financial and accounting system and accounting subject, establishment of business and product accounting rules of the entire bank, management of financial accounting, statistic, delivery and preparation of financial reports, and management of the taxation and centralized reimbursement of the entire Bank.

 

The Operation Management Department is responsible for the establishment and implementation of operational regulations and process, integration of operational resources, management and monitoring of operational risk, management of payment and settlement systems, centralized processing of corporate non-cash business at counters and on-site business of head office’s business units, management and support of the bank’s capital settlement in both domestic and foreign currencies.

 

Ⅲ. Removing the Office of Risk Management Committee, and set up the Risk Management Department and Credit Appraisal Department on the basis of the integration of functions of the former Office of Risk Management Committee.

 

The Risk Management Department is responsible for the comprehensive risk management of the entire bank, including risk planning, establishment of quantitative risk management mechanism and relevant technical support, control and management of the three risk systems, and evaluation of risk-related positions.

 

 

 

 

 

 

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