A senior official has flagged the imminent launch by the Chinese central bank (the People’s Bank of China) of new rules governing the assessment of its systemically important banks.
Pan Gongsheng (潘功胜), deputy governor of the People’s Bank of China (PBOC) and head of the State Administration of Foreign Exchange (safe), said that PBOC was currently working with the China Banking and Insurance Regulatory Commission (CBIRC) on the “Systemically Important Bank Assessment Measures” (系统重要性银行评估办法).
According to Pan a draft version of the Measures for the solicitation of opinions from the public has already been completed and will soon be released.
Pan made the remarks on 21 October at the 2020 Financial Street Forum in Beijing.
The Measures will “confirm assessment methods, assessment scopes and assessment procedures for China’s systemically important banks,” as well as establish an assessment indices system covering the four dimensions of scale, affiliation, replaceability and complexity.
In November 2018 PBOC issued the “Guidance Opinions on Improving Regulation of Systemically Important Financial Institutions” (关于完善系统重要性金融机构监管的指导意见) establishing an overall framework for the supervision, regulation and risk control of China’s systemically important financial institutions.
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