Featured Product

    CBIRC to Further Promote Development of Financial Services for SMEs

    April 25, 2021

    CBIRC issued notice on promoting the high-quality development of financial services for "small and micro" enterprises, or SMEs, in 2021. The notice clarifies policy requirements for bancassurance institutions to serve small and micro enterprises, which includes policies on allocating existing financial resources, optimizing the financial supply structure, and enriching the business of inclusive insurance products. The notice sets out that banking financial institutions should further innovate and improve the credit evaluation model, risk management and control technology, and batch credit approval mechanism for small and micro enterprises.

    The notice sets out the following considerations to promote development of financial services for small and micro enterprises in 2021: 

    • Inclusive small and micro enterprise loans need to continue to achieve the goal of "two increases" in terms of growth rate and number of households throughout the year. Five large banks must strive to achieve an annual growth of more than 30% in inclusive small and micro enterprise loans. 
    • Institutions need to continue to increase the initial loan, renewal, and credit loans of small and micro enterprises and to focus on increasing independent and controllable medium and long-term credit support for advanced manufacturing, strategic emerging industries, and industrial chain supply chains. 
    • Institutions need to encourage the deepening of the bancassurance cooperation mechanism and explore and innovate insurance policy financing products for small and micro enterprises under the premise of controllable risks. 
    • Banking financial institutions should further improve their internal mechanisms and systems against the financial service supervision and evaluation indicators of commercial banks for small and micro enterprises.
    • Banking financial institutions need to be encouraged to use credit asset securitization and direct transfer of credit assets under the premise of legal compliance and risk control to revitalize their credit stocks and use them to continuously extend loans to small and micro enterprises. 

     

    Related Links (in Chinese)

    Keywords: Asia Pacific, China, Banking, Insurance, Small and Micro Enterprises, Credit Risk, SME, CBIRC

    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    EP Reaches Agreement on Corporate Sustainability Reporting Directive

    The European Council and the European Parliament (EP) reached a provisional political agreement on the Corporate Sustainability Reporting Directive (CSRD).

    June 21, 2022 WebPage Regulatory News
    News

    PRA Consults on Model Risk Management Principles for Banks

    The Prudential Regulation Authority (PRA) launched a consultation (CP6/22) that sets out proposal for a new Supervisory Statement on expectations for management of model risk by banks.

    June 21, 2022 WebPage Regulatory News
    News

    EC Regulation Amends Standards for Calculating Credit Risk Adjustments

    The European Commission (EC) published the Delegated Regulation 2022/954, which amends regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    EIOPA Issues Cyber Underwriting Proposal, Statement on Open Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers—one on the supervisory statement on exclusions related to systemic events and the other on the supervisory statement on the management of non-affirmative cyber exposures.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BCBS Issues Climate Risk Principles while HKMA Expresses Its Support

    The Basel Committee on Banking Supervision (BCBS) issued principles for the effective management and supervision of climate-related financial risks.

    June 15, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8280