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China Outlines Risk Criteria For Foreign Banks - Regulator

CHINA PRESS
MNI (BEIJING)

China’s top banking regulator has established new criteria to assess the operational risk of foreign banks operating in China including the amount of support they receive from their global headquarters, according to Caixin. For operational risk, the China Banking and Insurance Regulatory Commission (CBIRC) will evaluate risk management, operational control, compliance and asset quality. For headquarters support, the CBIRC will look at the level of financial and management support. For risky banks, the CBIRC can take measures such as restricting the outflow of funds abroad, order the suspension of some businesses or the removal of senior management, or remove market access, Caixin said.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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