The Asian Banker

CBRC issues new wealth management rules to ensure enhanced systemic stability
Launch of CRBC’s fresh regulations to address transparency and accountability of banks’ retail assets as well as a growing shadow banking industry.

Apr 03, 2013 | Baron Laudermilk

The Chinese Banking Regulation Committee (CBRC) tightened wealth management rules last week in another round of detailed prescriptions on how to sell wealth management products (WMPs). The rules aim at cracking down on the pooling of WMP-linked assets at banks by imposing harsh restrictions on their lending to debt-ridden local governments and limiting client exposure to risky investment products. Over the years, CBRC has attempted to strengthen the accountability of banks and curbing the practice of WMPs being sold in a highly non-transparent manner. Deemed the largest and most…

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Categories: China, Retail Banking, Wealth Management
Keywords: ICBC, WMP, CBRC, Qian Xiaoyang, Shadow Banking, Private Banking
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