People's Bank of China, Internal Control of Commercial Banks Guidelines

Issued: September 18 2002
Effective: as of date of issue
Interpreting authority: People's Bank of China
Applicability: The Guidelines are applicable to both Chinese-invested and foreign-invested commercial banks in the PRC (Article 138).

Main contents: The 141-article Guidelines set out the objectives of and basic requirements for internal control of commercial banks in the first two parts. Internal control in respect of credit granting, capital business, deposit and counter business, intermediary services, accounting, and computer information systems are covered in Parts Three to Eight, respectively. The People's Bank of China's evaluation of the internal control of commercial banks pursuant to these Guidelines shall be a major part of its risk assessment on commercial banks and also an important basis on which the People's Bank of China exercises market entry control (Article 139).
Related legislation: PRC People's Bank of China Law, Mar 18 1995, CLP 1995 No.5 p23 and PRC Commercial Banking Law, May 10 1995, CLP 1995 No.5 p32
Repealed legislation: People's Bank of China, Strengthening the Internal Control of Financial Institutions Guiding Principles, May 16 1997, CLP 1997 No.6 p6