On Apr. 3, CHI NFRA published notice re internet-assisted lending.
CHI NFRA published Notice on strengthening the management of internet-assisted lending business by commercial banks and enhancing the quality and efficiency of financial services; at the same time, it published answers to reporters' questions.
Overall aim is to promote compliant, healthy development of internet-assisted lending business, enhance regulatory effectiveness, and safeguard consumer interests.
Internet-Assisted Lending Business
Requires that commercial banks conduct internet-assisted lending under centralized management by head offices, ensuring that responsibilities, risks, returns are aligned.
Banks must ensure reasonable risk pricing, keep their scale of operations appropriate.
Head office will be held accountable for managing internet-assisted lending activities.
Set clear entry requirements for third-party institutions; urges bank to manage costs, profitability, establish standardized pricing mechanisms for internet lending services.
Emphasizes importance of independent risk management and warns against excessive reliance on third-party credit enhancement services, which could pose additional risks.
Commercial banks must prioritize protecting financial consumers' rights and interests.
