Regulators clamp down on direct insurance companies’ use of “accounting reinsurance”
Chenyu Xu
The stricter regulations on accounting reinsurance will pressure distressed insurers to explore costlier but regulatory-compliant financing tools…
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NFRA
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NFRA issues measures expanding AMCs’ role in dealing with bad loans
Under the measures, AMCs can purchase assets that banks haven’t formally classified as nonperforming. We assume that these loans should be categorized as such, but banks are reluctant to do so due to…
NFRA deputy stresses risk control and product development at insurance industry conference
Xiao’s cautionary remarks on insurers’ asset expansion appear to contradict his simultaneous call for them to underwrite a variety of retail-centric liabilities and support emerging ventures…
NFRA urges insurers to expand annuity
The NFRA’s initiative to encourage insurers to expand commercial annuities could add diversity to retirement savings options and ease the strain on the state-funded pension system, making retirement incomes more sustainable. However…
NFRA’s Li Yunze says state plans to recapitalize big six banks
As profits slow, banks can preserve capital by recognizing fewer nonperforming loans (NPLs) and reducing the provisions they hold for writing down NPLs…
Regulators go after shadow banking
Zoey Kuang
As credit demand weakens, small financial institutions may resort to risky behavior to survive. Beijing wants to prevent that from happening…
NFRA issues new catalogues for financial leasing firms
The catalogues are part of Beijing’s broader strategy to clamp down on unsustainable financial practices and prevent further buildup of local government hidden debt. In recent years, tighter regulation of the financial leasing industry has shown promising progress, with direct-leasing steadily growing to represent a larger share of the total leasing volume…
NFRA releases draft measures on administrative penalty discretion
Rebecca Huang
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NFRA announces transition of private pension scheme out of pilot phase
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NFRA calls on banks to send reminders for “dormant” accounts
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