CBIRC published measures and questions and answers (Q&A) on measures for evaluation of directors and supervisors of banking and insurance institutions, with these measures coming into effect on July 01, 2021. CBIRC also published the regulatory and legislative workplan for 2021, wherein the regulator plans to formulate or revise 19 rules and regulations.
According to the workplan for 2021, CBIRC intends to either formulate or revise the following rules and regulations:
- Interim measures for the administration of fixed assets loans, interim measures for the administration of working capital loans, and interim measures for the administration of personal loans (revision)
- Administrative measures for the custody business of commercial banks
- Administrative measures for internal control of wealth management companies
- Interim provisions on the management of insurance asset management companies (revision)
- Insurance sales management measures
- Administrative measures for banking and insurance supervision statistics
- Administrative measures for consumer suitability of banking and insurance institutions
- Regulations on the regulatory responsibilities of dispatched institutions of CBIRC
- Decision of CBIRC on amending some administrative licensing rules (revision)
- Implementation measures for administrative licensing matters of policy financial institutions
- Measures for the capital management of financial asset investment companies (for trial implementation)
- Interim measures for the administration of online small loan companies
- Measures for the supervision and administration of small loan companies
- Interim measures for the supervision and administration of local asset management companies
- Measures for the supervision and management of pawn shops
- Administrative measures for enterprise group finance companies
- Administrative measures for auto finance companies (revision)
- Administrative measures for the protection of consumer rights and interests of banking and insurance institutions
- Commercial bank service price management measures (revision)
Effective Date: July 01, 2021
Keywords: Asia Pacific, China, Banking, Insurance, Q&A, Governance, Workplan, Strategic Priorities, CBIRC
Previous ArticleSARB Publishes Directive on Capital Framework and Update on JIBAR
The European Commission (EC) published the Delegated Regulation 2021/1527 with regard to the regulatory technical standards for the contractual recognition of write down and conversion powers.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to provide guidance to authorized deposit-taking institutions on the interpretation of APS 120, the prudential standard on securitization.
The Single Resolution Board (SRB) published a Communication on the application of regulatory technical standard provisions on prior permission for reducing eligible liabilities instruments as of January 01, 2022.
The Australian Prudential Regulation Authority (APRA) published a new set of frequently asked questions (FAQs) to clarify the regulatory capital treatment of investments in the overseas deposit-taking and insurance subsidiaries.
The European Banking Authority (EBA) published the final report on the guidelines specifying the criteria to assess the exceptional cases when institutions exceed the large exposure limits and the time and measures needed for institutions to return to compliance.
The Prudential Regulation Authority (PRA) issued the policy statement PS20/21, which contains final rules for the application of existing consolidated prudential requirements to financial holding companies and mixed financial holding companies.
The European Banking Authority (EBA) revised the guidelines on stress tests to be conducted by the national deposit guarantee schemes under the Deposit Guarantee Schemes Directive (DGSD).
The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics.
The Hong Kong Monetary Authority (HKMA) issued a circular, for all authorized institutions, to confirm its support of an information note that sets out various options available in the loan market for replacing USD LIBOR with the Secured Overnight Financing Rate (SOFR).
The Office of the Comptroller of the Currency (OCC) issued a new "Problem Bank Supervision" booklet of the Comptroller's Handbook. The booklet covers information on timely identification and rehabilitation of problem banks and their advanced supervision, enforcement, and resolution when conditions warrant.