The CBRC Issued the Notice on Making up for Weakness in Regulation and Enhancing Regulatory Efficiency

 

In recent years, with the development of financial markets, new changes have emerged in business structures and risk characteristics of the banking industry, and a few flaws in banking supervisory system and practice have been disclosed. Recently, the China Banking Regulatory Commission (CBRC) has issued the Notice on Making up for Weakness in Regulation and Enhancing Regulatory Efficiency so as to improve regulatory effectiveness, guard against financial risks and promote safe and sound operation of the banking industry.

 

The Notice comprises 16 articles in 6 parts, including strengthening supervisory system construction, risk sources containment, off-site surveillance and on-site examination, information disclosure supervision, regulatory punishment, and accountability mechanism. Targeting at the key problems, weak links and major risks of banking institutions, the Notice puts forward a series of detailed supervisory requirements so as to enhance regulatory quality and efficiency and promote standardized operation of banking institutions.

 

The CBRC will urge different regulatory departments, local offices as well as banking institutions to implement the requirements of the Notice, refine relevant systems and mechanisms, reinforce implementation, so as to effectively make up for the weakness in regulation and improve regulatory efficiency.

 

 

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Copyright: China Banking Regulatory Commission
ADDR:Jia N0.15 Financial Street, Xicheng District, Beijing, 100033