It is suggested to amend the law of the peoples Bank of China in due time
One of Cui Yus proposals is to ask the Standing Committee of the National Peoples Congress to amend the law of the peoples Bank of China in due time. She believed that the continuous promotion of the reform of the financial system and the deepening of the opening-up of the financial industry have put forward new and higher requirements for the work of the peoples Bank of China. The current law of the peoples Bank of China can no longer fully meet the objective needs of economic development, so it is necessary to revise it.
First, we need to further clarify the responsibilities of the central bank. It is suggested that in the fourth article, the responsibilities of the peoples Bank of China in serving the real economy, preventing and controlling financial risks and deepening financial reform should be defined, and the peoples Bank of China should be given the corresponding power to perform its duties. We need to improve the content of our responsibilities. Combined with the economic and financial situation in recent years and the actual performance of the peoples Bank of China, it is suggested to add the following contents to Chapter IV Business and Chapter V Financial Supervision and management: first, make it clear that the peoples Bank of China is responsible for financial security guidance and coordination, and establish a centralized and unified financial security management mechanism, with division of labor and cooperation, and each performs its own duties; second, make it clear that the peoples Bank of China is given a prevention and resolution system For example, it has the right to obtain relevant data and materials from financial subjects, supervise and inspect the implementation of relevant regulatory policies by financial subjects and impose penalties according to law; thirdly, it has the right to clarify the measures and means of the peoples Bank of China to prevent and resolve systemic risks, such as establishing and improving the monitoring and early warning system of systemic risks The unified risk management system, carrying out the on-site assessment and stress test of the financial institutions robustness, so as to provide the peoples Bank of China with a better legal basis and guarantee for performing its duties.
Second, we need to further improve macro Prudential Management. It is suggested to add special chapters to clarify the content of macro Prudential Management, including but not limited to the policy framework of macro Prudential Management and the content of macro Prudential Management; to enrich the supervision measures of the peoples Bank of China, we can take such measures as law enforcement inspection, administrative investigation, administrative punishment and other binding means to solve the problems of weak regulatory operability of the central bank, mismatch between measures and legal responsibilities.
Third, we need to further strengthen overall financial management. It is suggested that financial market supervision should be carried out as a whole. In the relevant chapters, it is clear that the peoples Bank of China will carry out overall supervision on financial market participants, clarify the supervision objects and standards, improve access management, improve governance structure, and form a financial overall management system with reasonable layout, effective governance, scientific management and controllable risk. We will promote comprehensive statistics in the financial sector as a whole. First, in Article 4 of the law of the peoples Bank of China, it is clear that the peoples Bank of China is responsible for overall planning of comprehensive statistics of the financial industry; second, it is necessary to promulgate regulations on the administration of financial statistics as soon as possible, clarify the rights and obligations of the administrative departments and statistical objects, and provide legal support and guarantee from expanding the statistical field, enriching the statistical content and promoting the coordination of statistical management; third, it is necessary to strengthen the relevant laws and regulations In the proposed financial regulatory laws and regulations, the obligation of regulatory objects to submit comprehensive statistical data of the financial industry shall be clarified.
Commercial bank law should further standardize business management
Cui Yu suggested the following amendments to the Commercial Bank Law:
First, further strengthen financial supervision. It is suggested to add an article to the general provisions of Chapter I of the commercial bank law to clarify the categories and standards of commercial banks. For example, commercial banks are classified according to their asset size. At the same time, the concept of classified supervision should be clarified.
Second, further standardize the operation and management. One is to expand the business scope of commercial banks according to Article 3 of the commercial bank law. Second, in view of Article 43 of the commercial bank law, the restrictions on the cross business operation of commercial banks should be eased appropriately, and the provisions such as commercial banks are not allowed to engage in trust investment and securities business within the territory of the peoples Republic of China, not allowed to invest in non self use real estate or non bank financial institutions and enterprises, unless otherwise stipulated by the state should be adjusted accordingly, so as to meet the requirements In line with the actual operation and management of commercial banks.
Third, further standardize the credit of small and micro enterprises. It is suggested to add relevant provisions on small and micro credit of commercial banks in Chapter IV Basic rules of loans and other businesses of the commercial bank law, and take due diligence exemption as one of the basic principles of accountability.
Fourth, further strengthen capital constraints. In view of Article 13 of the commercial bank law, in the aspect of establishing the registered capital of commercial banks, it is suggested to comprehensively consider the capital restriction and risk prevention requirements of commercial banks and reasonably increase the minimum registered capital to meet the needs of normal business operation and risk control of commercial banks.
Fifth, further improve corporate governance and information disclosure. First, it is suggested that Article 18 of the commercial bank law should be amended as commercial banks should set up board of supervisors. Second, it is suggested that Article 40 of the commercial bank law, based on the existing provisions, further expand the scope of related parties of commercial banks, and effectively prevent the risks of insider control and related party transactions. Third, it is suggested that Article 56 of the law of the peoples Republic of China on commercial banks should appropriately adjust the time requirements for the publication of audit reports by commercial banks.
Sixth, we will increase the penalties for commercial banks violations. Compared with the economic and social negative effects caused by the illegal acts of commercial banks, the punishment for the illegal acts is relatively low at present. It is suggested to appropriately increase the punishment for the illegal acts and enrich the punishment means for the illegal acts in accordance with Article 73 of the commercial bank law. Finally, in order to build a market-oriented legal system of financial market in an all-round way, the new commercial bank law should be coordinated with the upcoming civil code, as well as the peoples Bank of China law, the banking supervision and management law, the securities law, the insurance law, the company law, the enterprise bankruptcy law, and the futures law, so as to give full play to the system of laws and regulations to adjust the financial market The joint force advantage of standardizing financial behavior and constantly improving the financial governance system of our country. Source: responsible editor of Securities Times: Yang bin_nf4368
Finally, in order to build a market-oriented legal system of financial market in an all-round way, the new commercial bank law should be coordinated with the upcoming civil code, as well as the peoples Bank of China law, the banking supervision and management law, the securities law, the insurance law, the company law, the enterprise bankruptcy law, and the futures law, so as to give full play to the system of laws and regulations to adjust the financial market The joint force advantage of standardizing financial behavior and constantly improving the financial governance system of our country.