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CBRC: Non-Financial Enterprises Can Set Up Consumer Finance Companies Pilot To Expand To 12

2013/11/22 18:49:00 9

Banking Regulatory Commission Financial Company Finance And Economics

the revised method is divided into 5 chapters, a total of 39. 立足于满足试点＜a href="//www.sjfzxm.com/"＞公司＜/a＞深化发展的实际需要，此次修订主要在以下几方面做出重要调整：一是增加主要出资人类型，促进消费金融公司股权多样化，以充分利用民间资本和消费金融优势资源;二是放开营业地域限制，允许消费金融公司在风险可控的基础上逐步开展异地业务，以利于试点公司尽早实现规模效应，增强行业整体实力;三是根据业务发展实际需要，增加吸收股东存款业务，以进一步拓宽资金来源，更好地支持消费金融公司业务发展;四是将消费金融公司发放消费贷款的额度上限由“借款人月收入5倍”修改为“20万元人民币”，以充分体现其功能定位，增强业务可操作性;五是增加公司风险管理的自主权，删除“消费金融公司须向曾从本公司申请过耐用消费品贷款且还款记录良好的借款人发放一般用途个人消费贷款”等限制性要 The six is to increase the consumer protection clause, which requires Consumer Finance Companies to abide by the principle of openness and transparency and fully fulfill the obligation of disclosure. 
 with the approval of the State Council, 10 new cities including Shenyang, Nanjing, Hangzhou, Hefei, Quanzhou, Wuhan, Guangzhou, Chongqing, Xi'an, Qingdao and so on participated in the Consumer Finance Companies pilot project. In addition, according to CEPA related arrangements, eligible Hongkong and Macao financial institutions can set up Consumer Finance Companies in Guangdong (including Shenzhen). The principle of "one place, one family" will be expanded, and 12 new pilot institutions will be added. 
After the implementation of measures, the CBRC will adhere to the principle of commercialization and marketization and strictly examine and approve the entry conditions stipulated in the measures on the basis of voluntary application by the market participants, and expand the pilot work. {page_break} 
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 China Banking Regulatory decree 
 2013 No. second 
 "Consumer Finance Companies pilot management measures" has been adopted by the CBRC at its eighteenth chairman meeting in 2013. It is hereby promulgated and shall come into force on January 1, 2014. 
 Shang Fulin, chairman of the China Banking Regulatory Commission, 
 November 14, 2013 .
 Consumer Finance Companies pilot management method 
 Chapter I General Provisions 
 Article 1 in order to promote the development of consumption < a href= "//www.sjfzxm.com/" > financial industry < /a > development, standardize the operation of Consumer Finance Companies, formulate these measures in accordance with the laws and regulations of the People's Republic of China banking supervision and management law and the People's Republic of China Company Law. 
< > the Consumer Finance Companies as mentioned in these second Measures refers to the non bank financial institutions established in People's Republic of China within the approval of the CBRC, which do not absorb public deposits, and provide loans for the purpose of consumption for the residents in China within the principle of small sum and decentralization. 
 Third the consumption loans mentioned in these Measures refer to loans issued by the Consumer Finance Companies to the borrowers for the purpose of consumption (excluding buying houses and automobiles). 
 Fourth, the name "consumer finance" should be marked in the name of Consumer Finance Companies. Without the approval of the CBRC, no organization shall use the word "consumption finance" in its name. 
 fifth banking regulatory bodies shall supervise and manage Consumer Finance Companies and its business activities in accordance with the law. 
 second chapter establishment, change and termination 
 sixth, the following conditions shall apply to apply for the establishment of Consumer Finance Companies: 
 (1) there is a company charter which is in conformity with the provisions of the People's Republic of China company law and the CBRC; 
 (two) there is a contributor who meets the prescribed conditions; 
 (three) has registered capital in line with the minimum limit stipulated in these measures; 
 (four) there are directors, senior managers who are qualified for qualification and qualified employees who are familiar with consumer financial business; 
 (five) established effective corporate governance, internal control and risk management system, with management information system suitable for business operation; 
 (six) there are business premises, safety precautions and other facilities that are suitable for business operation; 
 (seven) other prudential conditions prescribed by the CBRC. 
 seventh the contributor of Consumer Finance Companies shall be an enterprise legal person lawfully established within and outside China, and shall be divided into the main contributor and the general investor. The main contributor is the investor who has the largest amount of capital contribution and the amount of contribution is not less than 30% of the total capital stock of the proposed Consumer Finance Companies. 
 the main contributor referred to in the preceding paragraph shall provide domestic and non-financial enterprises for domestic and foreign financial institutions or main businesses to provide products suitable for consumption loan business. 
 eighth financial institutions as the main contributors of Consumer Finance Companies shall meet the following requirements: 
 (1) having more than 5 years of experience in the field of consumer finance; 
 (two) at the end of the last 1 years, the total < a href= "//www.sjfzxm.com/" > assets < /a > not less than 60 billion yuan or equivalent convertible currencies (consolidated accounting statements); 
 (three) the financial standing is good, and the profit has been continuous (the consolidated accounting statement caliber) in the last 2 accounting years; 
 (four) good reputation, no major illegal business records in the past 2 years; 
 (five) the capital source of the shares is genuine and lawful, and shall not be invested by borrowing funds, and shall not be invested by others' funds; 
 (six) committed not to transfer the shares held by Consumer Finance Companies within 5 years (except by the banking regulatory authority in accordance with the law), and in the proposed articles of incorporation, 
 (seven) has good corporate governance structure, internal control mechanism and sound risk management system; 
 (eight) to meet the requirements of the prudential supervision index of the regulatory authorities of the country (region) at the place of residence; 
 (nine) overseas financial institutions should set up representative offices in China for more than 2 years or have branches to have adequate analysis and Research on the Chinese market. The financial regulatory authorities in the country or region have established a good supervision and management cooperation mechanism with the CBRC; 
 (ten) other prudential conditions prescribed by the CBRC. 
 financial institutions, as general contributors to Consumer Finance Companies, should have the conditions stipulated in (three), (four), (five), (six), (seven), (eight), and (nine), and should have the conditions of not less than 300 million yuan or equivalent convertible currencies. 
 ninth non-financial enterprises, as the main contributors of Consumer Finance Companies, shall have the following conditions: 
 (1) the operating income in recent 1 years is not less than 30 billion yuan or equivalent convertible currency (consolidated accounting statement caliber); 
 (two) net assets at the end of the last 1 years are not less than 30% of the total assets (consolidated accounting statements); 
 (three) the financial standing is good, and the profit has been continuous (the consolidated accounting statement caliber) in the last 2 accounting years; 
 (four) good reputation, no major illegal business records in the past 2 years; 
 (five) the capital source of the shares is genuine and lawful, and shall not be invested by borrowing funds, and shall not be invested by others' funds; 
 (six) committed not to transfer the shares held by Consumer Finance Companies within 5 years (except by the banking regulatory authority in accordance with the law), and in the proposed articles of incorporation, 
 (seven) other prudential conditions prescribed by the CBRC. 
 non-financial enterprises, as general contributors to Consumer Finance Companies, should have the conditions specified in (two), (three), (four), (five), and (six) terms. 
 tenth main contributors of Consumer Finance Companies can stipulate in Consumer Finance Companies's articles of association that they should give liquidity support when Consumer Finance Companies appears to pay difficulties, and make up capital in time if the operation fails, causing losses to erode capital. 
 eleventh Consumer Finance Companies should have at least 1 Consumer Finance Companies with 5 years or more experience in consumer financial business management and risk control, and the proportion of investment shall be no less than 15% of the total share capital of Consumer Finance Companies. 
 twelfth the registered capital of the Consumer Finance Companies shall be a one-time paid up monetary capital, with a minimum of 300 million yuan or equivalent convertible currency. 
 the CBRC can adjust the minimum amount of registered capital according to the development of consumer financial business and the need for prudent supervision. 
 thirteenth Consumer Finance Companies can set up branches according to the needs of business development and approved by the CBRC. The specific conditions for the establishment of branches shall be separately formulated by the CBRC. 
 fourteenth Consumer Finance Companies directors and senior managers implement the qualification approval system. 
 fifteenth Consumer Finance Companies has one of the following changes, it should be submitted to the banking regulatory authority for approval: 
 (1) change the name of the company; 
 (two) changing the registered capital; 
 (three) change ownership or adjust the ownership structure; 
 (four) change the domicile or business place of the company; 
 (five) amend the articles of Association; 
 (six) change directors and senior managers; 
 (seven) to adjust the scope of business; 
 (eight) changing the organizational form; 
 (nine) merger or division; 
 (ten) other matters specified by the CBRC. 
 sixteenth Consumer Finance Companies has one of the following circumstances and can be dissolved after approval by the CBRC: 
 (1) when the business period stipulated in the articles of association or the other causes of dissolution stipulated in the articles of association appear; 
 (two) the resolution of the power organ stipulated in the articles of association is dissolved; 
 (three) because company merger or division needs to be dissolved; 
 (four) other statutory causes. 
 seventeenth Consumer Finance Companies shall be dealt with in accordance with the relevant laws and regulations of the state when the dissolution of the Consumer Finance Companies is terminated or declared bankrupt in accordance with the law. 
 eighteenth administrative licensing procedures for the establishment, alteration, termination and qualification approval of directors and senior managerial personnel of Consumer Finance Companies shall be carried out in accordance with the relevant provisions of the CBRC. 
 nineteenth Consumer Finance Companies shall abide by the relevant provisions of the state's foreign exchange control in the process of establishment, alteration and business operation involving foreign exchange management. 
 third business scope and operating rules 
 twentieth, with the approval of the CBRC, the Consumer Finance Companies can operate the following part or all of its RMB business: 
 (1) issuing personal consumption loans; 
 (two) to accept the deposits of shareholders' domestic subsidiaries and domestic shareholders; 
 (three) to borrow money from domestic financial institutions; 
 (four) approved the issuance of financial bonds; 
 (five) domestic interbank borrowing; 
 (six) consultation and agency business related to consumer finance; 
 (seven) agency sales and consumer loans related insurance (rest assured) products; 
 (eight) fixed income securities investment business; 
 (nine) other business approved by the CBRC. 
 twenty-first Consumer Finance Companies issuing personal loans to individuals should not exceed customer risk tolerance and the borrower's loan balance should not exceed RMB 200 thousand yuan. 
 fourth chapter supervision and management 
 twenty-second Consumer Finance Companies shall establish and improve the corporate governance structure and internal control system in accordance with the relevant provisions of the CBRC, formulate business operation rules, and establish a comprehensive and effective risk management system. 
 twenty-third Consumer Finance Companies shall comply with the following regulatory requirements: 
 (1) the capital adequacy ratio is not lower than the relevant regulatory requirements of the CBRC; 
 (two) the balance of interbank funds is not higher than 100% of the net capital; 
 (three) the asset loss reserve adequacy ratio is not less than 100%; 
 (four) the investment balance is not higher than 20% of the net capital. 
 the calculation method of regulatory indicators is in compliance with the relevant provisions of the CBRC non site supervision report index system. The CBRC needs prudent supervision to make appropriate adjustments to the above indicators. 
 twenty-fourth Consumer Finance Companies shall establish a prudent asset loss reserve system in accordance with relevant provisions and prepare assets loss readiness in full and in time. No profit distribution shall be made without making sufficient preparations. 
 twenty-fifth Consumer Finance Companies should set up a risk pricing mechanism for consumer loan interest rates. According to factors such as capital costs, risk costs, capital return requirements and market prices, the interest rate level of consumer loans should be formulated within the scope permitted by laws and regulations, so as to ensure that pricing can cover risks comprehensively. 
 twenty-sixth Consumer Finance Companies should establish effective risk management system and reliable business operation procedures, fully identify false application information and prevent fraudulent practices. 
 twenty-seventh Consumer Finance Companies, if there is a need for outsourcing, should formulate policies and management systems related to outsourcing, including decision-making procedures for outsourcing, evaluation and management of outsourcing parties, measures to control confidentiality and safety of business information and contingency plans. 
 before signing the outsourcing agreement, the Consumer Finance Companies shall report to the banking regulatory authority the main risks of outsourcing and the corresponding risk aversion measures. 
 Consumer Finance Companies shall not outsource business closely related to the core technologies of loan decision making and risk control. 
 twenty-eighth Consumer Finance Companies shall prepare and submit accounting statements and other statements required by the banking regulatory authority according to regulations. 
 twenty-ninth Consumer Finance Companies shall establish a regular external auditing system and submit the annual audit report confirmed by the legal representative to the banking regulatory authority within 4 months after the end of each accounting year. 
 thirtieth Consumer Finance Companies shall accept supervision and inspection according to law, and shall not refuse or obstruct them. The banking regulatory authority may, if necessary, entrust accounting firms to audit Consumer Finance Companies's operation, financial status, risk status, internal control system and implementation. 
 thirty-first Consumer Finance Companies shall have the obligation of confidentiality of personal information provided by the borrower and shall not disclose it arbitrarily. 
If the thirty-second borrowers fail to return the principal and interest of the loan according to the contract, the Consumer Finance Companies shall collect it in a lawful way, and shall not resort to any improper means such as threats, threats, harassment, and so on. P 
 thirty-third Consumer Finance Companies shall do well in the protection of financial consumers' rights and interests in accordance with relevant laws and regulations and the relevant regulatory requirements of the CBRC. Business operations shall follow the principle of openness and transparency and fully fulfill the obligation of disclosure so that borrowers can clearly understand the contents of loans, time limit, prices and repayment methods, and specify in the contract. 
 thirty-fourth Consumer Finance Companies in violation of the provisions of these measures, the banking regulatory authority may order rectification within a prescribed time limit. If a bank fails to rectify the overdue period or its behavior seriously jeopardize the sound operation of Consumer Finance Companies and damage the legitimate rights and interests of customers, the banking regulatory agency may, in accordance with the laws and regulations of the People's Republic of China on banking supervision and administration, take different regulatory measures, such as suspending business and restricting shareholders' rights. 
 thirty-fifth the Consumer Finance Companies may or may have a credit crisis and seriously affect the legitimate rights and interests of its clients. The CBRC can take over or facilitate institutional restructuring in accordance with the law. If the Consumer Finance Companies has illegal operation and poor management and so on, the CBRC has the right to revoke it if it is not revoked, which will seriously harm the financial order and damage the public interest. 
 fifth chapter supplementary provisions .
 thirty-sixth conditions for investors in Hongkong, Macao and Taiwan to set up Consumer Finance Companies for overseas contributors. 
 thirty-seventh "above" contains the same number or level. 
 thirty-eighth, the CBRC shall be responsible for the interpretation of these measures. 
 thirty-ninth, these Measures shall come into force on January 1, 2014. The original "Consumer Finance Companies pilot management measures" (CBRC Order No. third of 2009) shall be abolished simultaneously.