According to Articles 8, 9, and 10 of the Rules:

(1) The CIPS account opened by the operating institution for a direct participant shall be a zero-balance account. Such accounts do not accrue interest, may not be overdrawn, and must have a zero balance at the end of the trading day. Funds held in a CIPS account belong to the direct participant that has opened the account and are not part of the operating institution’s own assets. The operating institution shall centrally manage the accounts of its participants. A single direct participant may open only one zero-balance account in CIPS. Indirect participants do not open accounts in CIPS.

(2) In accordance with the business needs of CIPS, the operating institution may open a clearing account with the People's Bank of China to centrally hold settlement funds used by participants in CIPS transactions, and such funds shall be accounted for separately from other funds held by the operating institution. Direct participants shall enjoy corresponding rights based on the balance in their respective CIPS accounts. This account shall not be overdrawn, and its balance at the end of the trading day shall be zero. The operating institution shall not open accounts with commercial banks to hold settlement funds used by CIPS participants in CIPS transactions, nor shall it allow any accumulation of clearing funds.

(3) Direct participants may, based on their clearing and settlement needs, manage the liquidity of CIPS accounts through their own clearing accounts or clearing accounts opened at the People's Bank of China via their custodian banks.