China Banking Insurance Regulatory Commission Replaces CBRC and CIRC
The China Banking Insurance Regulatory Commission (CBIRC) has been formally listed and its website was launched on April 08, 2018. CBIRC has replaced CBRC and CIRC. The official notification highlights that the new organization will use Xi Jinping’s socialist ideology as a guide to earnestly identify regulatory positions, clarify regulatory objectives, and resolutely fight for the prevention and resolution of financial risks. Efforts should be made to deepen reforms and expand, guide the banking-insurance industry to further improve the quality and efficiency of the service entity economy, and start a new journey. On April 02, 2018, CBRC had also issued a notice containing a set of regulations on the supervision and administration of the financial guarantee companies.
The notice concerns the supervision and management departments of financing guarantee companies in all provinces, autonomous regions, and municipalities that are directly under the Central Government, various banking regulatory bureaus, policy banks, large banks, joint-stock banks, postal savings banks, foreign-funded banks, financial asset management companies, and other financial institutions. The attachments to the notice contain form and completion instructions for Business License for Financing Guarantee Business of the People's Republic of China. The notice, which came into effect on April 02, 2018, covers the following:
- Measures for the Administration of Financial Guarantee Business Licenses
- Measures for the Financial Guarantee Liability Balance Calculations
- Measures for Financial Guarantee Company Asset Ratio Management
- Guidelines for Business Cooperation between Banking Financial Institutions and Financing Guarantee Companies
Related Links (in Chinese)
- Notice on CBIRC Launch
- CBIRC Website (Note the CBRC English abbreviation used in URL)
- Notice on Financing Guarantee Companies
- Attachment 1 (DOC)
- Attachment 2 (DOC)
Effective Date: April 02, 2018
Keywords: Asia Pacific, China, Banking, Securities, Financial Guarantee Companies, CBRC, CIRC, CBIRC
Related Articles
|
News
EBA Single Rulebook Q&A: Third Update for March 2019EBA published answers to seven questions under the Single Rulebook question and answer (Q&A) updates for this week.
March 15, 2019
WebPage
Regulatory News
|
|
News
OCC Updates Recovery Planning Booklet of the Comptroller's HandbookOCC updated the Recovery Planning booklet of the Comptroller’s Handbook.
March 15, 2019
WebPage
Regulatory News
|
|
News
EBA Publishes Report on Convergence of Supervisory Practices Across EUEBA published annual report on the convergence of supervisory practices in EU.
March 14, 2019
WebPage
Regulatory News
|
|
News
CPMI-IOSCO Publish Update to Level 1 Assessment of PFMI ImplementationCPMI and IOSCO jointly updated the Level 1 Assessment Online Tracker on monitoring of the implementation of the Principles for financial market infrastructures (PFMI).
March 14, 2019
WebPage
Regulatory News
|
|
News
Agustín Carstens of BIS Speaks About New Role of Central BanksWhile speaking at the 20th anniversary conference of the Financial Stability Institute (FSI), Agustín Carstens, the General Manager of BIS, highlighted the need for regulatory actions in light of the continued evolution of financial technology.
March 14, 2019
WebPage
Regulatory News
|
|
News
PRA Publishes Policy Statement on Group Supervision Under Solvency IIPRA published a policy statement (PS9/19) that provides feedback on responses to the consultation paper CP15/18 and the final supervisory statement SS9/15 (Appendix) on group supervision under Solvency II.
March 14, 2019
WebPage
Regulatory News
|
|
News
ECB Announces Start Date for Euro Short-Term RateECB announced that it will start publishing the euro short-term rate (€STR) as of October 02, 2019, reflecting the trading activity of October 01, 2019.
March 14, 2019
WebPage
Regulatory News
|
|
News
PRA Proposes to Update the Pillar 2 Capital Framework for BanksPRA is proposing (CP5/19) to update the Pillar 2 capital framework to reflect continued refinements and developments in setting the PRA buffer (Pillar 2B).
March 13, 2019
WebPage
Regulatory News
|
|
News
PRA Publishes Policy Statement Related to Credit Risk MitigationPRA published a policy statement (PS8/19) that contains the final policy in the updated supervisory statement SS17/13 on credit risk mitigation (Appendix 1) as well as the statement SS31/15 on Internal Capital Adequacy Assessment Process (ICAAP) and the Supervisory Review and Evaluation Process or SREP (Appendix 2).
March 13, 2019
WebPage
Regulatory News
|
|
News
FED Updates Supplemental Information and Q&A for Form FR Y-14FED updated the supplemental instructions and the questions and answers (Q&A) document for the information collection on capital assessments and stress testing, which is covered by the reporting form FR Y-14A.
March 13, 2019
WebPage
Regulatory News
|
