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More Bad News for Banks as Regulators Cap Online Lending

2021年02月22日 21:12 来源于 Caixin Global
Limits on joint lending with fintech groups follow imposition of new curbs on deposit-taking
Some banking industry participants told Caixin they are concerned that the new rules could make it harder for many regional banks to do business. Photo: IC Photo

China’s financial regulators have dealt a fresh blow to banks and fintech companies that jumped into online lending, imposing tougher rules that have the potential to crimp the growth and scale of their credit business.

The notice (link in Chinese), published by the China Banking and Insurance Regulatory Commission (CBIRC) on Saturday, tightens oversight of banks’ online lending through measures including a ban on the provision of credit by regional banks to customers outside the jurisdiction covered in their company registration. The commission set an overall limit on online loans issued by banks in cooperation with third parties as a percentage of their total credit, and stipulates limits on their total exposure to joint lending. It also mandates that in any joint loan, the other institution must provide at least 30% of the capital.

版面编辑:喻竹杨洋
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