Featured Product

    CBIRC and PBC Publish Updates for Financial Sector Entities

    April 06, 2022

    The China Banking and Insurance Regulatory Commission (CBIRC) published a draft decision amending certain administrative licensing regulations and issued a "notice on further strengthening financial support for the development of small and micro enterprises in 2022." In addition, the People’s Bank of China (PBC) published an exposure draft on the Law on financial stability.

    Below are key highlights of the recent updates:

    • CBIRC is requesting opinions on the "decision on amending some administrative licensing regulations.” The amendments include reducing the scope of examination and approval for the qualifications of bank executives, optimizing the relevant qualifications, optimizing the scope and mechanism for the examination and approval of bank issuance of bonds, and revising certain clauses in accordance with the principle of consistency between China and foreign countries.
    • The key work areas highlighted in the notice for small and micro enterprises include continuously improving the financial supply of small and micro enterprises, improving the multi-level credit supply system for small and micro enterprises, further enhancing the availability of loans for small and micro enterprises, continuing the policy of deferred repayment of principal and interest, strengthening financial support for the technological innovation of small and micro enterprises, effectively strengthen risk management and data governance, and strengthening of credit information sharing and application.
    • The PBC exposure draft includes provisions related to financial risk prevention, financial risk defusing, financial risk resolution, legal liabilities, and supplementary provisions. The draft law will strengthen financial risk prevention and early correction so that risks are identified and managed at an early stage. It will establish a market- and law-based risk resolution mechanism, and specify the sources and use of risk resolution funds, improve risk resolution measures and tools to protect the legitimate rights and interests of market entities. Also, it will hold those who commit illegal and irregular conducts accountable, thereby consolidating the financial safety net and holding the bottom line that no systemic financial risk should occur.

     

    Related Links (in Chinese)

     

    Keywords: Asia Pacific, China, Banking, Licensing, Administrative Licensing, SMEs, Credit Risk, Financial Stability, Lending, CBIRC, PBC

    Related Articles
    News

    EU Agencies Update LCR Rule and Macro-Prudential Policy Recommendation

    The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).

    May 23, 2022 WebPage Regulatory News
    News

    EBA Publishes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.

    May 23, 2022 WebPage Regulatory News
    News

    EIOPA Examines Physical Climate Risk Exposure, SII Non-Compliance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a report assessing insurers' exposure to physical climate change risks

    May 20, 2022 WebPage Regulatory News
    News

    NGFS Report Explores Quantification of Climate Risk Differentials

    The Network for Greening the Financial System (NGFS) published two reports to aid central banks and regulators in their oversight of the financial sector and in their central bank operations

    May 19, 2022 WebPage Regulatory News
    News

    EC Publishes Results on Review of Web Accessibility Directive

    The European Commission (EC) published the results of a public consultation, held in October 2021, on the review of the Web Accessibility Directive.

    May 19, 2022 WebPage Regulatory News
    News

    MAS Consults on Adjustment Spreads for Conversion of SOR Contracts

    The Monetary Authority of Singapore (MAS) and the SC-STS are jointly consulting, until June 10, 2022, on setting adjustment spreads for the conversion of legacy SOR contracts to SORA reference rate.

    May 18, 2022 WebPage Regulatory News
    News

    OSFI Discusses Benchmark Rate Transition, Sets Out Work Priorities

    The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.

    May 17, 2022 WebPage Regulatory News
    News

    EBA Proposes Standards to Support Secondary NPL Markets

    The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.

    May 17, 2022 WebPage Regulatory News
    News

    EU Confirms Agreement on Rules on Cybersecurity and Banking Resolution

    The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).

    May 13, 2022 WebPage Regulatory News
    News

    EBA Issues Standards for Crowdfunding Service Providers Under ECSPR

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.

    May 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8206