Bank management subsidiary management approach: moderately relax the scope of use of its own funds, supporting system arrow on the string

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Bank management subsidiary management approach: moderately relax the scope of use of its own funds, supporting system arrow on the string

2018-12-03 00:25:35 86 ℃
Introduction: At present, 20 banks have announced the proposed financial subsidiaries, with a total registered capital of 117 billion yuan.

After more than a month of consultation, on December 2, the China Insurance Regulatory Commission officially issued the "Management Measures for Commercial Banking Financial Subsidiaries". The tens of billions of asset management market ushered in new players, which will have a greater impact on public offerings, trusts and other institutions, and about 22 trillion bank wealth management markets are also ushered in reshaping.

The banking industry pointed out that the majority of opinions in the public consultation stage have been adopted by the Bank of Finance, and the opinions received by the supervision are far less than the new financial regulations and new regulations, and the market response is positive. The market will run smoothly.

The official website of the China Insurance Regulatory Commission said that the "Management Measures for Financial Subsidiaries" is a supporting system for the "New Financial Regulations", and together with the "New Regulations for Asset Management" and "New Regulations for Financial Management" constitute a financial management subsidiary to carry out wealth management business. Regulatory requirements to be followed. The financial subsidiary is a non-bank financial institution engaged in wealth management business for commercial banks. Considering that the “New Financial Regulations” apply to banks that have not yet carried out wealth management business through subsidiaries, the “Administrative Measures for Financial Management Subsidiaries” have made appropriate adjustments to the provisions of the “New Financial Regulations” to make the regulatory standards and other resources of the financial subsidiaries. The overall management structure is consistent.

Comparing the previous draft for comments, the important changes include three major aspects: First, in the aspect of equity management, adopting feedback from market institutions, and encouraging all types of shareholders to hold long-term equity in financial subsidiaries, While maintaining the stability of the shareholding structure, it will reserve space for the financial subsidiaries to introduce domestic and foreign professional institutions and better implement the banking industry's opening up measures.

Secondly, in terms of investment in own funds, with reference to the supervision system of similar asset management institutions, moderately relax the scope of use of their own funds, and allow financial subsidiaries to strictly abide by the risk management requirements, a certain proportion Self-owned funds are invested in wealth management products issued by the company.

Third, in terms of internal control isolation and trading control, with reference to the supervision system of similar asset management institutions, the separation of investment management and transaction execution functions, the establishment of a fair trading system and a transaction monitoring mechanism, and wealth management products. Regulatory requirements are further refined in terms of control of the same and reverse transactions and practitioners' behavioral norms. At the same time, the Banking Regulatory Commission has begun to formulate a supporting supervision system for the net capital and liquidity management of the bank's financial subsidiaries.

In addition, First Financial found that it has been confirmed in the comments that there has been no significant change in the content: the public wealth management products issued by the bank financing subsidiary can directly invest in stocks. In terms of investment, it mainly invests in standardized creditor assets and stocks of listed companies. It can invest in non-standardized debt assets and must not invest in unlisted corporate equity, unless otherwise specified. In addition, the public offering of the financial subsidiary does not have a sales starting point.

With the new regulations on new assets and new financial regulations, the bank financial management subsidiary has already ushered in a wave of peaks. Statistics show that, including the five major banks, there are currently 20 banks that have announced the proposed financial subsidiary, with a total registered size of 117 billion yuan.

Editor: Roth Young