On 2 February, the Office of the Central Organization Committee published the "Public Function, Internal Institutions and the People's Bank of Staffing of China" (hereinafter referred to as "The Three Set Program"), which explained functions. central bank, internal organization and personnel organization.
Among them, the central bank was responsible for the prevention of financial risks and emergency disposal, financial infrastructure planning, and the planning of financial oversight on the Internet as a whole.
Also, it's worth notingThe "Three Set" program also complements the assessment of a financial technology innovation business.
According to the "three set" scheme, the "Financial Market Division", one of the central institutions of the central banks, is responsible for co-ordinating Internet financial supervision and the evaluation of financial technology innovation business.
In particular, compared to the previous "three sets" of 2008, the responsibilities of the department were defined. This section has added four main responsibilities:
1. Add supervision on the inter-exchange foreign exchange market and related OTC derivatives. In fact, this responsibility was the responsibility of the Financial Markets Department. The "three set" scheme is further explained.
2. Formulate the basic rules of the company's credit bond market and the derivative market, which also means that the Financial Markets Division will play a coherent role in promoting the unification of corporate credit bonds in the interbank market and exchange market
3. Undertake the specific work of building important financial infrastructure construction and co-ordinating the operation of supervision.
4. Co-ordinate Internet financial supervision and evaluation of financial technology innovation business.
A central bank insider told reporters that the central bank leader was the special correction of Internet funding, but only phased action was, and later it would go to a daily regulatory mechanism and assume the future of funding, such as finance. The financial and regulatory responsibilities of financial institutions emerging as technology reflect the innovative nature of financial regulation.
At the same time, anotherA big change is to add Macro Prudential Administration to the "Three Set" program.
Upon determining the scheme published in "three sets", the Macro-Intended Authority has inherited the duties of the former Financial Policy Division II, and on the other hand, it has established a framework macro-prudential policy and a basic system to oversee the important financial and gold institutions that are systematic. Manage the responsibilities of the group.
In particular, the functions of the department have the following six aspects:
1. Lead the establishment of a macroeconomic and basic system policy framework, as well as mechanisms for systematic assessment, identification and disposal of financial institutions.
2. Leading financial capture companies and other financial groups and important important financial institutions to make basic rules, analyze analysis, and collective supervision.
3. Leading the macro-economic management of the foreign exchange market to study and evaluate RMB exchange rate policy.
4. Produce and implement RMB cross border business system, promote cross border and international use of RMB, and implement anti-circular adjustment of cross border funds.
5. Co-ordinate the development of RMB markets on land and offshore.
6. Promote central co-operation between central banks and take the lead in proposing renminbi capital policy recommendations for conversion policy.
As well,It was also mentioned for the prevention and elimination of financial risks several times in the "three set" scheme.
The "Three Set" program clearly sets out the Office of the National Council's Financial Stability Development Committee (hereinafter referred to as "Financial Committee" to the central bank). The internal institution of the central bank must undertake with the relevant office of the office of financial committees in accordance with the needs of the work, and to receive the overall co-ordination of the office of the financial committee. The purpose of establishing the Finance Committee is to strengthen the function of inter-departmental supervision and co-ordination and improvement & 39; r ability to prevent systemic risks.
At the same time, the Financial Stability Board has been given greater responsibility in the prevention and elimination of financial risks. Previously, he asked the Financial Stability Board "to monitor and evaluate systemic financial risks and take the lead in proposing policy recommendations for the prevention and mitigation of risks." This plan has been based on this, and it is clear that the Financial Stability Board should also offer a "risk prevention and mitigation scheme". "A" organize action. "
In fact, it is not difficult to see the series of financial policy documents published last year that "anti-risk" is a high frequency vocabulary, and in the next 2019, the prevention and elimination of financial risks will continue To be a leading priority of supervision. .Lei Fengwang(Public number: Lei Feng network)Lei Feng Wang Lei Feng Net
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