男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

chinadaily.com.cn
left corner left corner
China Daily Website

China tightens regulation over wealth management products

Updated: 2013-05-03 10:23
( Xinhua)

BEIJING -- China's banking regulator has moved to tighten its regulation over banks' wealth management products to dissolve risks in the shadow banking system that may jeopardize the country's financial stability.

The China Banking Regulatory Commission (CBRC) said on Thursday that it would strictly control the direction of investment by wealth management products to ensure such investments are in line with the state's macro and industrial policies and support the physical economy.

The banking regulator vowed to closely monitor bank operations using money pooled from sales of wealth management products, short-term financial products yielding a much higher rate than bank deposits.

The benchmark interest rate of one-year deposits stands at 3.25 percent.

Such wealth management products are considered an important part of China's shadow banking system, a complex and unregulated sector that has emerged and grown significantly in China in the last few years.

The CBRC ordered banks to fully disclose information on wealth management products and vowed to tighten oversight over sales activities of such products through covert investigations.

Risk warning must be prioritized and unauthorized sales and misleading words are prohibited in sales of such products, according to the CBRC.

The tightening of regulation over wealth management products came after Chinese banks' rushing to sell such off-balance-sheet products in recent years to evade regulatory oversight, raising concerns that they may threaten financial stability in the world's second-largest economy.

Sales of wealth management products have helped channel funds to borrowers or activities explicitly banned by government regulation amid efforts by the State Council, or China's cabinet, to rein in the property sector by limiting bank loans to real estate developers.

Some estimate wealth management businesses have accumulated to a combined level equal to about 5 percent of the banking sector's assets, which stood at 133.6 trillion yuan (about $21.5 trillion) at the end of last year.

The banking regulator also sounded the alarm over loans extended to local government financing vehicles (LGFVs), or financial entities set up by local governments to invest in infrastructure and other projects, which are considered another major source of risk for China.

A CBRC spokesman warned that commercial lenders should calculate their loans to LGFVs that are due each month, make timely communications with local governments and take precautionary measures to prevent major default incidents.

Banks are now banned from extending credit to vehicles with debt-to-asset ratios over 80 percent or a cash-to-debt ratio lower than 100 percent.

 
8.03K
 
...
主站蜘蛛池模板: 礼泉县| 镇原县| 邢台县| 沙洋县| 海宁市| 县级市| 灌南县| 民勤县| 涡阳县| 松潘县| 全南县| 柳州市| 屏边| 海盐县| 宜丰县| 沾益县| 汾阳市| 萝北县| 汝南县| 剑阁县| 凤山市| 蚌埠市| 麻城市| 原阳县| 湘阴县| 正安县| 静宁县| 类乌齐县| 杭锦后旗| 金溪县| 乌兰浩特市| 冷水江市| 中江县| 乐至县| 银川市| 喀什市| 河东区| 科技| 镇宁| 灵台县| 湖北省|