Central Bank: Did Not Adopt Suggestion to Include Commercial Banks and Credit Cooperatives' Withdrawal from Treasury Agency Business in Approval Management

Deep News
10/11

On October 11, financial sector news reported that the People's Bank of China released feedback on the public consultation regarding the "Administrative Measures for Approval Management of Treasury Agency Business by Commercial Banks and Credit Cooperatives (Draft for Comments)." The draft was publicly consulted through the official website of the People's Bank of China from January 17 to February 16, 2025, during which 2 valid opinions were received.

The first opinion suggested optimizing approval procedures, strengthening information communication, reinforcing supervisory management, emphasizing talent development, and promoting policy adaptation to business operations - representing overarching recommendations. Adoption status: Adopted. Explanation: The relevant principles have already been reflected in the drafting process of the measures, and subsequent revisions and implementation of related measures will further embody these opinion requests.

The second opinion proposed including the withdrawal of commercial banks and credit cooperatives from treasury agency business into approval management. Adoption status: Not adopted. Explanation: As the current higher-level laws do not clearly specify the exit mechanism for this administrative licensing, it is inappropriate to reflect this suggestion requirement in departmental regulations. Going forward, the bank will strengthen treasury agency business management by intensifying supervision and inspection efforts.

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