PBoC Tag

Tencent’s [0700:HK] mobile payment business WeChat Pay could face a record fine for violating the PBoC’s anti-money-laundering rules, as reported by Wall Street Journal on March 14. The exact amount of fine is currently being discussed, but it is likely to exceed hundreds of millions...

Stress testing is not an unfamiliar term to the financial sector. Ever since the global financial crisis, financial institutions have used stress tests as a key tool for assessing risks and resiliency of the financial system as well as individual institutions. With climate change increasingly...

PBoC has drafted regulation to strengthen supervision over non-banking institutions’ payment services on January 20, as reported by JRJ.com on the same day. Notably, the policy this time adds anti-monopoly measures for the non-banking payments industry. Moreover, the regulation highlights the requirement of non-banking payment...

PBoC issued draft measures on January 11 to regulate domestic credit investigation agencies and prevent such agencies from collecting excessive information from individuals, as reported by Eastmoney on January 12. The measures specify rules for credit reporting agencies to collect, organize, save, and process personal...

CBIRC and PBoC recently formed guidelines for commercial banks to conduct individual deposits businesses via the internet, and will publish related information to the public afterward, according to a CBIRC official, as reported by Caixin on December 31. The official indicated that CBIRC will support...

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