Featured Product

    PBC Outlines Work Priorities for 2020 in a Conference Held in Beijing

    January 05, 2020

    PBC published a statement on its Working Conference held in Beijing during January 02-03, 2020. The statement summarizes the main done in 2019 and outlines the work priorities for 2020. According to the meeting, in 2019, PBC resolutely guarded against major financial risks and worked toward continuous improvement of financial management and services. In 2020, work on recovery and resolution mechanism, preparation for macro-prudential stress tests, development of bond markets, and strengthening of the governance structure of policy banks will be some of the key areas in focus for the financial sector.

    With respect to the work in 2020, the meeting stressed on the following key points:

    • To prevent and resolve major financial risks. PBC will establish and improve the recovery and resolution mechanism, loss-sharing mechanism, and incentive and restraint mechanism of financial institutions. It will continue to carry out special rectification of Internet financial risks and establish a long-term supervision mechanism. 
    • Focus on alleviating the difficulty of financing for small and micro enterprises. PBC will improve the incentive mechanism for loan appraisal of small and micro enterprises and implement the credit due diligence and exemption system.
    • To accelerate the improvement of the macro-prudential management framework. Macro-prudential stress test system will be prepared. PBC will speed up the establishment and improvement of a macro-prudential management mechanism for cross-border capital flows that integrate local and foreign currencies. It will also gradually expand the scope of macro-prudential policies, organize the implementation of systemically important bank assessments, and promote the implementation of supervision and management measures for financial holding companies.
    • To deepen financial reform of financial markets and financial institutions. PBC will actively develop the bond market and strengthen the overall supervision of financial infrastructure. It will work to deepen the reform of small and medium banks and rural credit cooperatives, in addition to further improving the governance structure of policy banks.
    • To strengthen research and development and application of financial technology. PBC will implement the development plan for fintech and strengthen rules for fintech supervision. IT will continue to steadily advance the development of digital currencies and further expand the application field of Global Legal Person Identification Code (LEI) in China.
    • To comprehensively improve the level of financial services and financial management. PBC plans to deepen the pilot projects of regional financial reforms such as science and technology finance, green finance, inclusive finance, financial innovation, and regional coordinated development. It also plans to promote the modernization of central bank financial governance and further strengthen the anti-money laundering supervision.

    Keywords: Asia Pacific, China, Banking, Securities, Macro-prudential Policy, Stress Testing, SME, Fintech, LEI, Resolution Framework, PBC

    Featured Experts
    Related Articles
    News

    EBA Updates List of Validation Rules for Reporting by Banks

    EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.

    September 10, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Call for Advice to Strengthen AML/CFT Framework

    EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).

    September 10, 2020 WebPage Regulatory News
    News

    NGFS Advocates Environmental Risk Analysis for Financial Sector

    NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.

    September 10, 2020 WebPage Regulatory News
    News

    MAS Issues Guidelines to Promote Senior Management Accountability

    MAS published the guidelines on individual accountability and conduct at financial institutions.

    September 10, 2020 WebPage Regulatory News
    News

    APRA Formalizes Capital Treatment and Reporting of COVID-19 Loans

    APRA published final versions of the prudential standard APS 220 on credit quality and the reporting standard ARS 923.2 on repayment deferrals.

    September 09, 2020 WebPage Regulatory News
    News

    SRB Chair Discusses Path to Harmonized Liquidation Regime for Banks

    SRB published two articles, with one article discussing the framework in place to safeguard financial stability amid crisis and the other article outlining the path to a harmonized and predictable liquidation regime.

    September 09, 2020 WebPage Regulatory News
    News

    FSB Workshop Discusses Preliminary Findings of Too-Big-To-Fail Reforms

    FSB hosted a virtual workshop as part of the consultation process for its evaluation of the too-big-to-fail reforms.

    September 09, 2020 WebPage Regulatory News
    News

    ECB Updates List of Supervised Entities in EU in September 2020

    ECB updated the list of supervised entities in EU, with the number of significant supervised entities being 115.

    September 08, 2020 WebPage Regulatory News
    News

    OSFI Identifies Focus Areas to Strengthen Third-Party Risk Management

    OSFI published the key findings of a study on third-party risk management.

    September 08, 2020 WebPage Regulatory News
    News

    FSB Extends Implementation Timeline for Framework on SFTs

    FSB is extending the implementation timeline, by one year, for the minimum haircut standards for non-centrally cleared securities financing transactions or SFTs.

    September 07, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5796