Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.
August 1, 2019While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.
July 22, 2019Bank of Hangzhou, Bank of Ningbo and Huishang Bank will form the first batch of city commercial banks to join larger rivals in setting up wealth management subsidiaries.
July 5, 2019A US district court has reportedly found three Chinese state-owned banks in contempt for failing to comply with requests for evidence related to a North Korea sanction probe.
June 26, 2019A US federal judge has ordered three Chinese banks to provide documents in relation to a Hong Kong company which allegedly helped North Korea evade international sanctions.
May 7, 2019Following BOC's perpetual bond issuance in January, 10 more Chinese banks have announced plans to issue similar bonds, including ABC, ICBC and CCB.
May 3, 2019China's banking regulator has issued new rules requiring mandatory disclosure of NSFR every six months, and additional public disclosures of NSFR data on banks' websites.
March 21, 2019ICBC has become the 5th bank to receive approval to set up a wealth management subsidiary, through which it can channel WMP funds into the stock market.
February 18, 2019The banks selected by South Korea's central bank include 6 domestic institutions and 5 foreign institutions with local branches.
January 2, 2019The CBIRC has fined six banks a combined 156.3 million yuan for breaching rules on wealth management products, lending, and misleading advertising.
December 10, 2018