Watchdog tells banks to enhance oversight
By Yang Ziman (chinadaily.com.cn) Updated: 2014-01-16 16:00The 皇冠体育app Banking Securities Commission instructed commercial banks to set up specialized departments in their headquarters to regulate interbank and investment services, the 21st Century Business Herald reported.
The measure aims to keep accelerating interbank business under control and to enhance oversight.
Commercial banks have been allowing their first or second-level branches to invest their assets or wealth management funds in trust and asset managements.
Some of the branches that belong to the same bank are even fighting for the share of the same business.
Shang Fulin, the president of CBRC, earlier stressed the importance of streamlining banking regulation.
"Banks must separate the oversight of loans, wealth management, interbank business, investment, and private banks to strengthen concentrated supervision," said Shang.
. All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to 皇冠体育app Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online Registration Number: 