Featured Product

    CBIRC Consults on Regulatory Assessment of Bank Services for MSEs

    April 09, 2020

    CBIRC is consulting on draft provisional rules for regulatory assessment of commercial banks’ financial services for micro and small enterprises. CBIRC has drafted these rules to further alleviate the financing difficulties for micro and small enterprises (MSEs). The rules will guide and encourage commercial banks to thoroughly implement the decisions and work arrangements of the central government on financial support for MSEs and to continuously improve the quality and efficiency of MSE financial services. The deadline of the feedback is May 09, 2020. CBIRC has also issued questions and answers (Q&As) related to these draft rules.

    The key points covered in the draft rules include the following:

    • Clarifying assessment scope and setting standardized indicators. The rules note that comprehensive assessment shall be made on commercial banks over credit provision, establishment of relevant system and mechanism, implementation of key regulatory policies, innovation of products and services, and supervision and inspection related to MSE financial services, with specific indicators and assessment standards.
    • Specifying the assessment mechanism and standardizing the approach and process. CBIRC headquarters and local offices will establish a regulatory assessment mechanism that mainly targets banking institutions with legal person status and conduct annual assessment. The assessment process will include banks’ self-assessment, regulatory information collection, preliminary regulatory assessment, regulatory review, assessment result reporting, filing, and other related work. 
    • Strengthening the application of assessment results and providing incentives and guidance. The rules specify how the assessment results will be applied and emphasize coordination with relevant policies and measures. The aim is for the regulatory assessment results to provide better incentives for commercial banks to improve MSE financial services.

     

    Related Links (in English and Chinese)

    Comment Due Date: May 09, 2020

    Keywords: Asia Pacific, China, Banking, SME, Governance, Q&A, CBIRC

    Related Articles
    News

    UK Authorities Consult on Implementation of Basel 3.1 Standards

    The UK authorities have published consultations with respect to the Basel requirements for banks. The Prudential Regulation Authority (PRA) published the consultation paper CP16/22 on rules for the implementation of Basel 3.1 standards.

    November 30, 2022 WebPage Regulatory News
    News

    ESAs Issue Multiple Regulatory Updates for Financial Sector Entities

    The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.

    November 15, 2022 WebPage Regulatory News
    News

    FSB and NGFS Publish Initial Findings from Climate Scenario Analyses

    The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.

    November 15, 2022 WebPage Regulatory News
    News

    FSB Issues Reports on NBFI and Liquidity in Government Bonds

    The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.

    November 14, 2022 WebPage Regulatory News
    News

    ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments

    The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.

    November 10, 2022 WebPage Regulatory News
    News

    IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets

    The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.

    November 09, 2022 WebPage Regulatory News
    News

    EBA Finalizes Methodology for Stress Tests, Issues Other Updates

    The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups

    November 09, 2022 WebPage Regulatory News
    News

    EU Finalizes Rules Under Crowdfunding Service Providers Regulation

    The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.

    November 08, 2022 WebPage Regulatory News
    News

    OSFI Sets Out Work Priorities and Reporting Updates for Banks

    The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.

    November 07, 2022 WebPage Regulatory News
    News

    APRA Finalizes Changes to Capital Framework, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.

    November 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8597