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CBRC lists 5 big tasks to reform bank sector
Print Edition
China’s banking regulator has identified five major tasks for next year, which includes encouraging private investment in the banking industry as well as liquidity and credit risk management, it said in a statement on its official website yesterday.
In order to deepen reform and open the industry further, the China Banking Regulatory Commission will unveil policies for the establishment of private banks to encourage private investors to set up small- and medium-sized banks, consumer finance companies, and financial leasing firms.
The CBRC also said it is committed to a wider opening of the banking sector to foreign capital and will study measures that will lower the entrance for foreign investment in the industry.
The CBRC also urged banks to revitalize existing capital to manage liquidity better to prevent repeats of the interbank liquidity squeeze in June, when monetary rates shot up to a record highs.
Banks must ensure that there is no increase in the outstanding loans to their financing vehicles, according to the CBRC.
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