Measures for Information Disclosure by Commercial Banks
Measures for Information Disclosure by Commercial Banks
Measures Concerning Information Disclosure by Commercial Banks as Promulgated by the China Banking Regulatory Commission
Order of the China Banking Regulatory Commission [2007] No.7
July 3, 2007
The Measures Concerning Information Disclosure by Commercial Banks (hereafter referred to as the Measures) were passed at the 54th chairman meeting of the China Banking Regulatory Commission (CBRC) on December 8, 2006 and are hereby promulgated and shall be implemented as of the promulgation date.
Chairman: Liu Mingkang
Attached Measures Concerning Information Disclosure by Commercial Banks
Chapter One General Pprovisions
Article 1 These Measures have been formulated pursuant to the Law of Peoples Republic of China on the Regulation of and Supervision over the Banking Industry, the Law of the People's Republic of China on Commercial Banks, and all other relevant laws in order to strengthen the market principles regarding commercial banks, regulate information disclosure by commercial banks, effectively safeguard the rights and interests of depositors and other clients as well as promote sound and efficient operations by commercial banks.
Article 2 These Measures shall be applicable to those commercial banks duly established within the territory of the People's Republic of China, including Chinese-funded commercial banks, wholly foreign owned banks, joint venture banks and branches of foreign banks.
The regulations as stipulated in these Measures shall be applicable to commercials banks as well as rural cooperative banks, rural credit cooperatives, rural banks, loan companies and urban credit cooperatives unless otherwise provided for in these Measures or other regulations as issued by CBRC.
The term rural credit cooperatives as used in these Measures shall include rural credit cooperatives, rural credit cooperative societies at the county (city, district) level, rural credit cooperative unions at the county (city, district) level, rural credit cooperative societies at the regional (city) level, rural credit cooperative unions at the regional (city) level, and rural credit cooperative unions at the provincial (autonomous region, municipality) level.
Article 3 All commercial banks must make information disclosures in accordance with these Measures. These Measures establish the minimum requirements of information disclosures by commercial banks. Commercial banks may disclose more information than regulated in these Measures at their own discretion.
Article 4 Information disclosures made by commercial banks must be made in accordance with the relevant laws and regulations, the overall accounting system set by the state, and the relevant provisions as stipulated by the China Banking Regulatory Commission.
Article 5 Commercial banks must make information disclosures in accordance with the relevant regulations and apply the principles of truthfulness, accuracy, completeness and comparability.
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