Five regulatory red lines!The CBRC issued a document regulating the regulation of market prices for banking services

2022-05-01 0 By

To regulate Banks, according to the silver circ’s official website service market adjusted management, improve service entity economic effect, improving people’s financial consumer experience, silver insurance regulatory commission recently issued a “about specification of bank service market adjusted management guidelines” (hereinafter referred to as the “guidelines”), take effect on May 1, 2022.The Guiding Opinions are based on providing principled guidance to the service price management and behavior of banks and other financial institutions, clarifying requirements in the following aspects: the main responsibility of compacting institutions.The guidelines require banks and other financial institutions to implement centralized and unified management of service prices, standardize service processes, optimize system control, improve assessment and incentive mechanisms, strengthen authorization management and behavior control of branches, and strengthen the role of internal audit supervision.In addition, it is emphasized that banks and other financial institutions should follow the principle of appropriateness and matching in the service process, recommend appropriate services to customers, and ensure that the service price matches the actual service content.Standardize pricing requirements and calibration mechanisms.The guidelines specify the conditions that should be met by different pricing methods, such as proportional pricing, range pricing, agreement pricing and pricing based on external costs.Banks and other financial institutions are required to establish a sound pricing calibration mechanism to ensure that service prices are reasonable by comparing similar projects of the same quality, tracking cost changes across time periods, and assessing the actual implementation price level.Strengthen the management of service outsourcing agencies and partners.While focusing on the services provided by banks and other financial institutions, the guidelines focus on changes brought about by the development of financial forms and specialized division of labor, and strengthen the awareness of proactive management of banks and other financial institutions.As for the outsourcing of financial services, price clauses are required to be listed in the outsourcing service agreement, and it is forbidden for the outsourcing service provider to charge fees related to the outsourcing service to customers.For financial business cooperation, it is required to know the service content and price standard of the cooperative institutions, stipulate price information disclosure requirements in the cooperation agreement, and forbid the cooperative institutions to charge any fees from customers in the name of banks and other financial institutions.We will encourage initiatives to benefit enterprises and the people.”Guidance” to encourage Banks and other financial institutions to implement the policy of financial support the real economy and reduced cost and benefits, and actively fulfill the social responsibility, the basis of appropriate relief specific groups such as the elderly, the disabled bank service fees, for small micro enterprise, individual industrial and commercial households and other market main body to implement preferential price and service, and reasonable to determine the price of special funds to help safeguard field service,Moderately reduce fees for account management and maintenance, low frequency and low input services, and share the achievements of banking development with enterprises and the people.Draw five red lines for supervision.The guidelines put forward prohibitive requirements for unfair competition in the field of market regulation, inconsistent quality and price of financing-related services, excessive pricing ranges, excessive markups for introducing external services, and repeated charges.According to the CBRC, the implementation of the guidelines will promote the banking industry to better serve the real economy and the people in the new development stage, and form a market environment with fair price competition, standardized and effective management, quality and transparent services and full protection of rights and interests.Disclaimer: The above content is transferred from other media, the relevant information is only for the purpose of conveying more information, does not represent the views of this website, nor does it mean that this website agrees with its views or confirms the authenticity of the content.If the manuscript copyright units or individuals do not want to be published in this network, you can contact this network, this network can be immediately removed according to the situation.