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Amendments to the Implementing Rules of the Regulations on the Administration of Foreign Banks Stimulate Foreign Investment in China's Banking Industry

来源: 证券日报 2019-12-26 08: 44: 02Source: Securities Daily

Recently, the CBRC promulgated the Presidential Decree No. 6 and amended the "Implementation Rules of the People's Republic of China on the Administration of Foreign Banks Regulations" (the "Detailed Rules").

"Securities Daily" reporter learned that the amendments to the "Rules" are implemented in accordance with the revised "Regulations on the Administration of Foreign Banks of the People's Republic of China" (hereinafter referred to as the "Regulations") and implemented in accordance with the guiding ideology and principles of the "Regulations" Refining the measures for opening up the banking industry, including expanding the scope of choice of foreign banks' commercial presence, cancelling the total assets requirements of foreign banks established in China, canceling RMB business approval, reducing the threshold for foreign bank branches to absorb RMB retail deposits to 500,000 yuan, and adjusting foreign The requirements for interest-generating assets of bank branches and the implementation of merger assessment of domestic branches of foreign banks continue to promote the process of opening up the Chinese banking industry to the outside world.

The second is to include the issue of market access and opening up of foreign banks released in recent years and raise the level of legislation. These open matters include: clarifying the applicable reporting system for some businesses; clarifying that foreign banks can cooperate with the parent bank group in domestic and overseas business in accordance with the law; allowing foreign banks to consolidate the working capital allocated to domestic branches in China; and allowing those who have been permitted to start derivative product trading businesses. On the premise that certain conditions are met, the foreign bank management bank authorizes other branches to start relevant businesses.

The third is to maintain consistency with the previously issued regulations and regulatory standards, such as optimizing the assessment of liquidity ratio indicators of foreign bank branches, adjusting some of the provisions related to the division of supervisory responsibilities and reporting procedures, and modifying the provisions for the approval of interest-earning asset extraction before extraction Reports, amendments to provisions that are inconsistent with the Guidelines for Outsourcing Risk Management of Banking Financial Institutions, and amendments to places that involve the names of regulatory agencies.

According to a reporter from the Securities Daily, since 2017, the regulatory authorities have gradually relaxed a number of foreign bank market access matters through notifications and other forms: On March 10, 2017, the "Office of the China Banking Regulatory Commission on Foreign Banks' Partial Business Development Notice of Related Matters "; On February 13, 2018, the" Notice of the General Office of the China Banking Regulatory Commission on Revising the Implementation of the "Administrative Measures for Administrative Licensing of Foreign-funded Banks of the China Banking Regulatory Commission" was issued; on April 27, 2018, Notice of the General Office of the China Banking and Insurance Regulatory Commission on Further Relevant Matters Concerning the Relaxation of Market Access of Foreign Banks. This amendment includes some matters that are suitable for stipulation in the “Detailed Rules” to improve the level of legislation and maintain the consistency of foreign investment supervision regulations.

The CBRC said that the amendment aims to implement the opening-up policy of the banking industry, further optimize the investment and operating environment of the banking industry, stimulate the vitality of foreign investment in the development of the Chinese banking industry, and promote the enhancement of banking competitiveness and the quality of the real economy. At the same time, the CBRC will, based on national conditions, fully draw on the history and international experience of the opening-up of the banking industry, continue to improve prudential supervision rules, strengthen supervision after the event, and resolutely hold to the bottom line that no systemic risks will occur. (Reporter Zhang Ye)

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