In a guideline jointly released by the China Banking Regulatory Commission (CBRC) and Ministry of Finance, Chinese banks have been urged to enhance the capabilities to identify and tackle risks, closely monitor borrowers’ financial conditions and carefully assess risks when extending loans for mergers and acquisitions. In another guideline, CBRC also required commercial banks to set up a sound mechanism to identify, supervise and control potential information technology risks and safeguard customer data security.  Source: The Asian Banker

BIIA Newsletter June 2009 Issue