Featured Product

    CBIRC Consults on Measures for Recovery and Resolution Planning

    February 26, 2021

    CBIRC is consulting on the interim measures for the implementation of recovery and resolution plans of bancassurance institutions. The bancassurance institutions, as mentioned in these measures, refer to financial institutions established within the territory of the People’s Republic of China, such as commercial banks, rural credit cooperatives, and other financial institutions that accept public deposits, in addition to the financial asset management companies, financial leasing companies, and insurance companies. Comments can be provided on these interim measures by May 25, 2021. These measures shall come into force on the date of promulgation.

    The measures cover basic principles behind establishment of a recovery and resolution plan mechanism, formulation of recovery and resolution plans, supervision and administration of such plans, and supplementary requirements or provisions related to these plans. The measures also detail the scope of application, internal governance structure of financial institutions, and working mechanism between supervisory departments. The measures set out objectives for development of recovery and resolution plans, content to be included in the recovery and resolution plans, and implementation process of recovery and resolution plans. The measures stipulate that institutions meeting certain thresholds should formulate recovery and resolution plans. As per the measures, the regulatory authority can also designate institutions that need to formulate recovery and resolution plans based on factors such as business characteristics, risk status, and spillover effects. If the previously issued relevant measures are inconsistent with this measure, they shall be implemented in accordance with the provisions of these measures.

     

    Related Links (in Chinese)

    Comment Due Date: May 25, 2021

    Effective Date: Promulgation Date

    Keywords: Asia Pacific, China, Banking, Insurance, Resolution Framework, Resolution Planning, Recovery Planning, Q&A, CBIRC

    Related Articles
    News

    EC Issues Regulation on Adjustments to K-Factor Coefficients Under IFR

    The European Commission (EC) published a report summarizing responses to the targeted consultation on the supervisory convergence and the single rulebook in the European Union (EU).

    January 20, 2022 WebPage Regulatory News
    News

    OSFI Issues Results of Pilot on Climate Risk Scenario Analysis

    The Office of the Superintendent of Financial Institutions (OSFI) published an update on the discussion paper that intended to engage federally regulated financial institutions and other interested stakeholders in a dialog with OSFI, to proactively enhance and align assurance expectations over key regulatory returns.

    January 20, 2022 WebPage Regulatory News
    News

    ECB Issues Opinions on Green Bonds Standard and CRR Proposals

    The European Central Bank (ECB) published its opinion on a proposal for a regulation on European green bonds, following a request from the European Parliament.

    January 19, 2022 WebPage Regulatory News
    News

    ESRB Explores Policy Response to Risks Arising from Digitalization

    The Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) published a report that explores the expected impact of digitalization on provision of financial and banking services, and proposes policy measures to address the risks stemming from digitalization.

    January 18, 2022 WebPage Regulatory News
    News

    EU Authorities Address COVID-19 Reporting, MCD, and PSD2 Issues

    The European Banking Authority (EBA) announced that the guidelines on the reporting and disclosure of exposures subject to measures COVID-relief measures shall continue to apply until further notice.

    January 17, 2022 WebPage Regulatory News
    News

    FI Publishes Multiple Regulatory and Reporting Updates

    The Swedish Financial Supervisory Authority (FI) announced that the capital adequacy reporting as at December 31, 2021 must be done by February 11, 2022.

    January 17, 2022 WebPage Regulatory News
    News

    BSP Tackles Aspects of Lending and Islamic, Open & Sustainable Finance

    The Central Bank of the Philippines (BSP) issued communications covering developments related to online lending platforms, open finance framework and roadmap, and on the expected regulations in the area sustainable finance.

    January 16, 2022 WebPage Regulatory News
    News

    US Agencies Issue Regulatory Updates, FDIC Launches Tech Sprint

    The Board of Governors of the Federal Reserve System (FED) published the final rule that amends Regulation I to reduce the quarterly reporting burden for member banks by automating the application process for adjusting their subscriptions to the Federal Reserve Bank capital stock, except in the context of mergers.

    January 13, 2022 WebPage Regulatory News
    News

    EBA Issues Guide on Bank Resolvability, Consults on Transferability

    The European Banking Authority (EBA) published its assessment of risks through the quarterly Risk Dashboard and the results of the Autumn edition of the Risk Assessment Questionnaire (RAQ).

    January 13, 2022 WebPage Regulatory News
    News

    MFSA Publishes CRD5 Updates and Supervisory Priorities for 2022

    The Malta Financial Services Authority (MFSA) updated the guidelines on supervisory reporting requirements under the reporting framework 3.0.

    January 13, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 7875