Trust companies have three years to adapt to the new rules, but plans for how they will do so need to be submitted to the CBIRC within 30 days.
March 28, 2023The PBOC will defuse "bombs" by reducing the number of high-risk institutions especially small and mid-sized financial institutions.
March 17, 2023The FSC intends to amend the Act to allow only exceptional cases of consumer solicitation, where consent is obtained from the customers in advance.
July 12, 2022The two ex-bankers have relaxed risk controls and used customised rules to facilitate loan approvals for certain borrowers in exchange for bribes.
November 8, 2021Financial corruption and financial risks are intertwined, said senior inspector Xu Jiaai, speaking about corruption cases involving PBOC officials.
November 7, 2021The new requirements will ensure merchant acquiring services have measures in place to manage settlement risk, financial risk, fraud risk, technology risk and cyber risk.
September 23, 2021The interconnected nature of climate-related financial risks and the growing body of work to address them reinforce the need for coordinated action, the FSB says.
July 8, 2021The BOK is concerned that growing financial risks, household debt, and higher inflation could spark a new crisis.
July 2, 2021Customer reserve funds must be deposited either at the PBOC or with an eligible commercial bank, and transferred only through a clearing institution.
January 28, 2021The PBOC and CBIRC have formally barred banks from selling personal fixed deposit products online via third party platforms, citing regulatory violations.
January 19, 2021