From Wikipedia, the free encyclopedia
The China Banking Regulatory Commission (CBRC) is an agency of China authorized by the State Council to regulate the Chinese banking sector.
[edit] Main functions
- Formulate supervisory rules and regulations governing the banking institutions;
- Authorize the establishment, changes, termination and business scope of the banking institutions;
- Conduct on-site examination and off-site surveillance of the banking institutions, and take enforcement actions against rule-breaking behaviors;
- Conduct fit-and-proper tests on the senior managerial personnel of the banking institutions;
- Compile and publish statistics and reports of the overall banking industry in accordance with relevant regulations:
- Provide proposals on the resolution of problem deposit-taking institutions in consultation with relevant regulatory authorities;
- Responsible for the administration of the supervisory boards of the major State-owned banking institutions; and Other functions delegated by the State Council;
[edit] Supervisory focuses
- Conduct consolidated supervision to assess, monitor and mitigate the overall risks of each banking institution as a legal entity;
- Stay focused on risk-based supervision and improvement of supervisory process and methods;
- Urge banks to put in place and maintain a system of internal controls:
- Enhance supervisory transparency in line with international standards and practices。
[edit] Regulatory objectives
- Protect the interests of depositors and consumers through prudential and effective supervision;
- Maintain market confidence through prudential and effective supervision;
- Enhance public knowledge of modern finance though customer education and information disclosure;
- Combat financial crimes.
[edit] Supervisory and regulatory criteria
- Promote the financial stability and facilitate financial innovation at the same time;
- Enhance the international competitiveness of the Chinese banking sector;
- Set appropriate supervisory and regulatory boundaries and refrain from unnecessary controls;
- Encourage fair and orderly competition;
- Clearly define the accountability of both the supervisor and the supervised institutions; and
- Employ supervisory resources in an efficient and cost-effective manner.
[edit] External links
