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

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Banks fined for financial violations

Updated: 2018-05-08 10:11
Share
Share - WeChat
China Merchants Bank. [Photo by Zhen Huai/For China Daily]

BEIJING-China's banking and insurance regulator recently fined three commercial banks for improper practices in wealth management.

China Merchants Bank, one of the country's biggest, was fined more than 65.7 million yuan ($10.3 million) for 14 violations, including guaranteeing principal on some wealth management products, the regulator said in an online statement on Friday.

Shanghai Pudong Development Bank was fined more than 58.5 million yuan for 19 offenses including allocating too much money raised from WMPs to risky assets.

Industrial Bank Financial Leasing Company, a wholly owned subsidiary of Industrial Bank Co Ltd, was fined 1.1 million yuan for bundling the sales of WMPs with its financial leasing business, among other violations.

The punishment comes as China's regulators toughen their stance on market irregularities, targeting risky business such as shadow banking.

Last month, the central bank tightened regulations on asset management businesses of financial institutions.

The new rules unify regulatory standards for asset management products and address issues such as implicit guarantees by banks on many WMPs.

While the new rules give financial institutions until the end of 2020 to fully reform their practices, risks in existing business may be gradually exposed, and more fines could be imposed, analysts said.

The China Banking and Insurance Regulatory Commission has also limited commercial bank's risk exposure to avoid systemic risk. A commercial bank's risk exposure to an interbank client shall not exceed 25 percent of its tier-1 capital, according to a document released by the regulator on Friday.

Nicholas Zhu, an analyst with Moody's Investors Service, said in a research note that the coordinated and comprehensive regulation covering all asset management products reflects the government's focus on taking risk out of the financial system and helping reduce the scope for regulatory arbitrage.

"China's various licensed financial institutions had total assets under management of 100 trillion yuan at year-end 2017. The regulation prohibits unlicensed entities such as internet platforms from originating and distributing asset-management products," Zhu said.

China Daily- Xinhua

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China 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 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 丰都县| 德阳市| 大新县| 长岭县| 康乐县| 黎城县| 磴口县| 南召县| 洱源县| 佛山市| 遂川县| 南安市| 屏边| 黄石市| 乡宁县| 百色市| 海伦市| 巩义市| 扶风县| 高平市| 栾城县| 荥经县| 海淀区| 准格尔旗| 建阳市| 昌邑市| 临沧市| 宝鸡市| 咸丰县| 砚山县| 惠安县| 彩票| 年辖:市辖区| 大同县| 昌图县| 桦甸市| 富阳市| 和龙市| 澄城县| 凤山县| 昌图县|