CBRC to Promote Foreign Bank Supervision

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Apr. 20 – The China Banking Regulatory Commission (CBRC) recently held a conference in Beijing emphasizing the importance of supervising and minimizing the risk of foreign banks in cross-border transactions and to further improve regulatory measures, according to Liu Mingkuang, Chairman of the CBRC.

For some foreign banks in China, the management mechanism has not been perfected and liquidity risk, credit risk and operational risk need to be minimized and further supervised.

In 2010, the CBRC will focus on the following areas:

  • To further improve the existing system of supervision
  • To better equip supervision tools and channels
  • To further strengthen the CBRC work in mechanism, management lines and staff

“If 2009 is regarded as the most difficult year for economic development, 2010 is the most complicated year. Facing a tough situation with the remaining effect of the Global Financial Crisis, it is now more important than ever for CBRC to further improve the supervision system, to ensure balanced economic development,” Liu said.