China tightens rules on banks' shareholders and entrusted loans
Beijing
CHINA'S banking regulator has introduced new measures to increase scrutiny on investments in commercial lenders and tighten regulation on the entrusted loans market, a rapidly growing segment of the country's shadow banking.
The China Banking Regulatory Commission (CBRC) published regulations on its website late on Friday that put limits on the number of commercial banks that single investors can have major holdings in. The rules are aimed at tackling "disorder" in the banking sector, including the abuse of rights by major shareholders and the prevalence of "invisible shareholders".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Weak yen pressures Bank of Japan’s interest rate decision
Basel Committee adds climate risks to banking supervision standards
Crypto firm sues SEC to fend off oversight of Ethereum
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM