CBIRC published draft implementation measures on administrative licensing of foreign banks. The draft measures include provisions to regulate the implementation of administrative licensing of foreign-funded banks by CBIRC; clarify the administrative licensing matters, conditions, procedures and deadlines; and protect the legitimate rights and interests of an applicant. The deadline for comments is December 08, 2019. The measures shall be implemented as of the date of promulgation. Additionally, the Measures for the Implementation of Administrative Licensing Matters by Foreign Banks, of the China Banking Regulatory Commission (CBRC Order No. 3 of 2018), shall be repealed simultaneously.
Foreign-funded banks referred to in these measures include wholly foreign-owned banks, Chinese-foreign joint venture banks, foreign bank branches, and foreign bank representative offices. Wholly foreign-owned banks, Chinese-foreign joint venture banks, and foreign bank branches are collectively referred to as foreign-funded banks' business institutions. The matters of a foreign-funded bank that shall be subject to administrative permission from CBIRC include establishment of the institution, change of the institution, termination of the institution, scope of business, qualifications of directors and senior managers, and other administrative regulations as required by laws, administrative regulations, and the State Council License matters.
Related Links (in Chinese)
Comment Due Date: December 08, 2019
Effective Date: Date of Promulgation
Keywords: Asia Pacific, China, Banking, Foreign-Funded Banks, Bank Licenses, CBIRC
Previous ArticleECB Updates List of Supervised Entities in EU in November 2019
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.