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Circular on the Investment in the Equity Interests of Commercial Banks by Insurance Institutions
关于保险机构投资商业银行股权的通知
This Circular aims to enhance the investments of insurance capital. Insurance institutions may now invest in the equity of unlisted banks. Investment qualifications, withdrawal mechanism, and risk management are also covered.
(Issued by the China Insurance Regulatory Commission on September 21 2006.)
(中国保险监督管理委员会于二零零六年九月二十一日发布。)
Bao Jian Fa [2006] No.98
保监发 [2006] 98号
Insurance companies and insurance asset management companies:
各保险公司、保险资产管理公司:
With a view to further broadening investment channels for insurance capital, improving the asset allocation, increasing investment management efficiency and promoting strategic cooperation between the insurance and banking sectors, following the approval of the State Council, insurance group (or holding) companies, insurance companies and insurance asset management companies (Insurance Institutions) may invest in the equity interests of commercial banks (Bank Equity). We hereby notify you on relevant matters as follows:
为进一步拓宽保险资金投资渠道,改善资产配置状况,提高投资管理效益,促进保险业与银行业战略合作,经国务院批准,保险集团(控股)公司、保险公司、保险资产管理公司(以下简称保险机构)可以投资商业银行股权(以下简称银行股权)。现将有关事项通知如下:
1. Investment Scope and Investment Principles
一、 投资范围和投资原则
Insurance Institutions may invest in the equity of unlisted banks, such as state-owned commercial banks, share-system commercial banks, urban commercial banks and other banks in China. When investing in Bank Equity, an Insurance Institution shall comply with the principle of prudence and, in line with the requirements of asset-liability matching management, strictly select the investment target, cautiously determine the investment method, reasonably arrange the investment limit, duly allocate the various types of funds, ensure the investment complies with the company's strategy, support the development of its core business, enhance its core competitiveness and duly safeguard the rights and interests of the company's shareholders and the insured.
保险机构可以投资境内国有商业银行、股份制商业银行和城市商业银行等未上市银行的股权。保险机构投资银行股权应当遵循审慎原则,按照资产负债匹配管理要求,严格选择投资对象,慎重确定投资方式,合理安排投资额度,妥善配置各类资金,确保投资符合公司战略,支持主营业务发展,提高核心竞争能力,切实维护公司股东和被保险人权益。
2. Investment Methods and Sources of Funds
二、 投资方式和资金来源
Investments in Bank Equity by Insurance Institutions are divided into common investments and material investments. If the total investment amount accounts for less than 5% of the target bank's share capital or paid-in capital, the investment is a common investment and if it accounts for 5% or more, it is a material investment.
保险机构投资银行股权分为一般投资和重大投资。投资总额低于拟投银行股本或者实收资本5%的为一般投资,5%以上的为重大投资。
An Insurance Institution may effectively apply such insurance capital as its corporate capital, that part of its liability reserve with a liability term of 10 years or more, etc., as well as other funds approved by the China Insurance Regulatory Commission (CIRC) to invest in Bank Equity and, depending on the different natures of such funds, determine the ownership of, and the distribution of returns on, the equity invested in. An insurance asset management company may accept entrustment for Bank Equity investments.
保险机构可以有效运用公司资本金、负债期限10年以上的责任准备金等保险资金及中国保监会认可的其他资金投资银行股权,并根据不同资金性质,确定投资股权归属和收益分配。保险资产管理公司可以受托投资银行股权。
3. Investment Percentages and Accounting Base Figures
三、 投资比例和核算基数
When investing in Bank Equity, an Insurance Institution must comply with the following percentages: the total of the balances of common investments, and of material investments in which an equity stake is taken out, may not exceed 3% of the institution's gross assets as at the end of the previous year; the balance of a common investment in the Bank Equity of a single bank may not exceed 1% of the institution's gross assets as at the end of the previous year. The balances of other material investments shall be submitted to the CIRC for examination and approval. The balance of corporate capital applied to material investments may not exceed 40% of the institution's paid-in capital as at the end of the previous year minus aggregate losses.
保险机构投资银行股权必须符合以下比例规定:一般投资和参股类重大投资余额的合计,不超过该机构上年末总资产的3%;一般投资单一银行股权的余额,不超过该机构上年末总资产的1%。其他重大投资的余额报中国保监会审批;重大投资运用公司资本金的余额,不超过该机构上年末实收资本扣除累计亏损的40%。
When an insurance group (or holding) company applies paid-in capital to invest in Bank Equity, it must deduct the capital invested in other legal persons and the funds invested in Bank Equity shall not include the insurance capital of other legal persons. The long-term liability reserve and other such insurance capital invested in Bank Equity by an Insurance Institution shall not include funds invested in investment-linked insurance products, universal life insurance products and other financial management type insurance products. If an Insurance Institution wishes to use a financing arrangement to invest in Bank Equity, it shall do so in accordance with relevant provisions and report the same to the CIRC for examination and approval.
保险集团(控股)公司运用实收资本投资银行股权,必须扣除投资其他法人的资本,且投资银行股权的资金不包括其他法人的保险资金。保险机构投资银行股权的长期责任准备金等保险资金,不包括投资连结保险产品、万能保险产品和其他理财类保险产品的资金。保险机构采取融资方式投资银行股权,应当按有关规定执行并报中国保监会审批。
4. Investment Qualifications and Basic Requirements
四、 投资资格和基本要求
An Insurance Institution that wishes to make a common investment must have relatively sound corporate governance, sound and effective risk management, an emergency mechanism to rapidly deal with major contingencies, a good business position in its core business, solvency that has satisfied specified requirements during the most recent three years, continuing growth in premium income, be profitable, its insurance assets are held in custody independently and it has not committed a major violation of laws or regulations.
保险机构进行一般投资,必须具有较为完善的公司治理,健全有效的风险管理,快速处理重大突发事件的应急机制,主营业务经营状况良好,最近三年偿付能力达到规定要求,保费收入持续增长,公司实现盈利,保险资产实行独立托管,没有发生重大违法违规问题。
An Insurance Institution that wishes to make a material investment must, in addition to satisfying the requirements for a common investment, have a set corporate growth strategy, a core business plan and the relevant professional management capabilities and be capable of accurately assessing the performance and risks of the target bank. If the Bank Equity investment is to account for between 5% (inclusive) and 10%, an insurance group (or holding) company shall have gross assets as at the end of the previous year of not less than Rmb20 billion and an insurance company shall have gross assets as at the end of the previous year of not less than Rmb100 billion; if the Bank Equity investment is to account for 10% or more, an insurance group (or holding) company shall have gross assets as at the end of the previous year of not less than Rmb30 billion and an insurance company shall have gross assets as at the end of the previous year of not less than Rmb150 billion. In general, an Insurance Institution may not have material investments in more than two commercial banks.
保险机构进行重大投资,除符合一般投资要求外,还必须具有确定的公司发展战略、主营业务规划和相应的专业管理能力,能够准确评估拟投银行的绩效和风险。投资银行股权在5%-10%之间的,保险集团(控股)公司上年末总资产不低于200亿元,保险公司上年末总资产不低于1000亿元;投资银行股权在10%以上的,保险集团(控股)公司上年末总资产不低于300亿元,保险公司上年末总资产不低于1500亿元。保险机构进行重大投资,一般不超过两家商业银行。
5. Selection Conditions and Main Indicators
五、 选择条件和主要指标
When an Insurance Institution wishes to make a common investment, the target bank shall have sound corporate governance and investment dividend provisions, a strict loan review and five-grade classification system, stable operations, act in good faith, have had relatively rapid business growth in the most recent three years, be relatively profitable, have a good financial position, be transparent in the disclosure of information and not have committed a major violation of laws or regulations. In accordance with relevant laws and provisions, the bank shall, as at the end of the previous year, have a capital adequacy ratio of at least 8%, a core capital adequacy ratio of at least 4%, a debt provisioning rate of not less than 70%, a rate of return on assets before provisioning of at least 1%, a rate of return on net assets of at least 12%, a rate of return on risk-weighted assets of at least 1.2%, a non-performing loan ratio not exceeding 5% and a most recent rating of A or above as rated by a domestic credit rating agency recognized by the CIRC or a most recent rating of BBB or above as rated by an international credit rating agency.
保险机构进行一般投资,拟投银行应当具有完善的公司治理和投资分红规定,严格的贷款审查和五级分类管理制度,经营稳健,诚实守信,最近三年业务增长较快,盈利能力较强,财务状况良好,信息公开透明,没有发生重大违法违规问题。按有关法律和规定,该银行上年末资本充足率达到8%,核心资本充足率达到4%,呆坏账拨备比率不低于70%,拨备前资产利润率达到1%,淨资产收益率达到12%,风险加权资产收益率达到1.2%,不良贷款率不超过5%,中国保监会认可的国内信用评级机构最近评级在A级以上,或者国际信用评级机构最近评级在BBB级以上。
When an Insurance Institution wishes to make a material investment, in addition to satisfying the requirements for a common investment, if the Bank Equity investment is to account for between 5% (inclusive) and 10%, the target bank must have abundant customers, network and other such economic resources, a relatively good business brand, a clear and solid business plan, a management team with relatively high qualifications, be able to give rise to a new competitive force as a result of the mutual making up between the bank and Insurance Institution of each other's weaknesses with each other's strengths and undertake that the Insurance Institution will obtain a seat on the decision making or supervisory body; if the Bank Equity investment is to account for 10% or more, the target bank shall have gross assets of not less than Rmb50 billion, a debt provisioning rate of not less than 50%, a non-performing loan ratio of not more than 10%, a genuinely feasible bad asset disposal and risk compensation plan and undertake that the Insurance Institution will obtain one or more seats on its decision making or supervisory body.
保险机构进行重大投资,除符合一般投资要求外,投资银行股权在5%至10%之间的,拟投银行必须具有丰富的客户、网络等经济资源,较好的业务品牌,清晰确定的经营计划,素质较高的管理团队,能与保险机构互补形成新的竞争优势,承诺保险机构取得决策或者监督机构的席位;投资银行股权在10%以上的,拟投银行总资产不低于500亿元,呆坏账拨备比率不低于50%,不良贷款率在10%以下,并有切实可行的不良资产处置和风险补偿方案,承诺保险机构取得一个以上决策或者监督机构的席位。
6. Reporting Procedure and Items Subject to Examination and Approval
六、 报备程序和审批事项
When an Insurance Institution is to make a common investment, it shall first report the same to the CIRC for the record. The materials to be submitted shall include the feasibility study on the investment, information on the institution's corporate governance, risk management, financial position, investment decision procedure, fund custody mechanism, the basic particulars of the target bank and the investment agreement, etc. (see the attachment).
保险机构进行一般投资应当事先向中国保监会备案,报备材料包括投资可行性研究报告、本机构公司治理、风险管理、财务状况、投资决策程序、资金托管机制、拟投银行基本情况和投资协议等(见附件)。
When an Insurance Institution is to make a material investment, it shall make an application to the CIRC. If the Bank Equity investment is to account for between 5% (inclusive) and 10%, in addition to satisfying the requirements for a common investment, the application materials shall include the comments upon examination of the relevant regulatory authority and the assessment report of an external professional firm. If the Bank Equity investment is to account for 10% or more, the materials for a preliminary examination (Preliminary Examination Materials) and for examination and approval (Approval Materials) shall be submitted separately (see the attachment) in accordance with provisions. The Preliminary Examination Materials shall include the basic particulars of the target bank and the investment plan, etc., and the Approval Materials shall, in addition to satisfying the requirements in respect of the materials submitted for the record for a common investment, include a feasibility study on the investment, the corporate strategy plan, information on the management team, the investment agreement, the comments upon examination of the relevant regulatory authority and other materials specified by the CIRC.
保险机构进行重大投资应当向中国保监会申请。投资银行股权在5%至10%之间的,申请材料除符合一般投资要求外,还包括有关监管机构的审核意见和外部专业机构的评估报告。投资银行股权在10%以上的,应当按规定分别提交预审和审批材料(见附件),预审材料包括拟投银行基本情况和投资方案等,审批材料除符合一般投资报备材料要求外,还包括投资可行性研究报告、公司战略规划、管理团队、投资协议、有关监管机构的审核意见和中国保监会规定的其他材料。
If the Bank Equity investment is to account for between 5% (inclusive) and 10%, the CIRC will conduct a pro forma examination of the application materials for completeness and legal compliance and issue written comments on its examination. If the Bank Equity investment is to account for 10% or more, the Preliminary Examination Materials shall be submitted to the CIRC for preliminary examination. The Insurance Institution shall complete relevant matters within 12 months from the date of receipt of the written comments upon preliminary examination. If, for any special reason, it cannot complete such matters on time, it shall apply to the CIRC for an extension in a timely manner. The extension may not exceed six months. The Insurance Institution may only make the actual investment after the examination of the Approval Materials by the CIRC.
投资银行股权在5%至10%之间的,中国保监会对申请材料的完整性和合规性进行形式审核,并出具审核意见函。投资银行股权在10%以上的,预审材料应当报中国保监会初审,保险机构应在获得初审意见函之日起12个月内,完成有关事项,特殊原因无法按期完成的,应当及时向中国保监会申请延期,延长期限不超过6个月。审批材料经中国保监会审核后,保险机构才能进行实质性投资。
7. Withdrawal Mechanism and Emergency Handling
七、 退出机制和应急处理
If an Insurance Institution is to transfer Bank Equity, it shall report the same to the CIRC for the record, in the case of a common investment, or report the same to the CIRC for examination and approval, in the case of a material investment. If a Bank Equity investment is to be converted into tradable shares and investment costs are to be booked as part of the balance of stock investments, matters shall be handled in accordance with provisions such as the Tentative Measures for the Administration of Stock Investments by Insurance Institution Investors. If the specified stock investment percentage is exceeded, gradual adjustments shall be made to achieve the specified requirements by the specified period of time, in the case of a common investment. As for material investments, the CIRC will issue separate provisions therefor. If withdrawal from Bank Equity investment is to be accomplished through a listing or a transfer by agreement, etc., the time limit and target shall be determined, and if it is to be accomplished by way of a buyback by the commercial bank, the buyback price and time limit must be determined.
保险机构转让银行股权,一般投资报中国保监会备案,重大投资报中国保监会审批。投资银行股权转为流通股的,投资成本计入股票投资的余额,按照《保险机构投资者股票投资管理暂行办法》等规定执行。超过股票投资比例规定的,一般投资在规定期限内逐步调整并达到规定要求,重大投资由中国保监会另行规定。所投银行股权采用上市或者协议转让等方式退出的,应当确定限制期限和对象,采用商业银行回购方式退出的,必须确定回购价格和期限。
If an Insurance Institution discovers that the de facto control of a target bank or the bank it has invested in has been transferred, that the investment cooperation partner has violated laws or regulations, or committed a material breach of contract, or that another such material event has occurred, it must immediately initiate the emergency handling mechanism, disclose relevant information in a timely manner, control investment management risks, carry out the investment decision procedure anew and report the decision opinions and relevant information to the CIRC in writing.
保险机构发现拟投或者所投银行实际控制权转移、投资合作方违法违规或者严重违约等重大事件,必须立即启动应急处理机制,及时披露有关信息,控制投资管理风险,重新履行投资决策程序,并将决策意见和有关情况书面报告中国保监会。
8. Risk Management and Monitoring Inspections
八、 风险管理和监督检查
When an Insurance Institution is to invest in Bank Equity, it must thoroughly consider the same, make the decision prudently, operate in a compliant manner, fully understand the actual circumstances and management of the target bank, carefully review its shareholding structure, asset quality, growth prospects, profitability, dividend level and liquidity arrangement. The Insurance Institution shall engage an external professional firm with the qualifications specified by the CIRC to conduct a due diligence investigation, comprehensively assess investment returns and major risks and reasonably determine the investment price. The Insurance Institution must erect a firewall, strictly handle transaction arrangements, avert delivery risks, ensure that the Bank Equity invested in is free of legal defects, is not the subject of a dispute over ownership and has not been pledged or otherwise encumbered. The Insurance Institution shall do follow-up analyses of the business performance of the bank it invested in, scientifically determine business growth targets and continue to duly carry out follow-up evaluation management.
保险机构投资银行股权必须充分论証,审慎决策,规范运作,全面了解拟投银行真实情况和管理状况,认真评审其股东结构、资产质量、发展潜力、盈利能力、分红水平和流动性安排,应当聘请符合中国保监会规定资质条件的外部专业机构开展尽职调查,综合评估投资收益和主要风险,合理确定投资价格。必须建立防火墙,严格交易安排,规避交割风险,确保所投银行股权没有法律瑕疵、没有所有权益争议,没有被质押及其他权利限制。保险机构应当跟踪分析所投银行经营情况,科学确定业务发展指标,持续做好后续评价管理。
If an Insurance Institution, in investing in Bank Equity, submits fraudulent materials, omits or fails to report material information, diverts returns or violates relevant provisions or requirements, the CIRC will take such regulatory measures against it as calling in for questioning, giving of a warning, distributing a circular of criticism, ordering a suspension or halting of the investment or withdrawal within a specified period of time. If the circumstances are serious and a major loss is incurred as a result thereof, the liability of the parties concerned shall be pursued in accordance with laws and relevant provisions.
保险机构提供虚假材料,漏报瞒报重大信息或者发生利益输送行为,违反有关规定和要求投资银行股权的,中国保监会将采取质询、警告、通报批评、责令暂停、停止投资或者限期退出等监管措施,情节严重并造成重大损失的,应当依照法律和有关规定,追究当事人的责任。
If an Insurance Institution wishes to invest in Bank Equity offshore, it shall proceed in accordance with provisions on the offshore investment of insurance capital. Based on the development of the financial market and the investment capabilities of Insurance Institutions, the CIRC will revise at the appropriate time the qualifications for investing in Bank Equity by Insurance Institutions, the scope of investment and percentages.
保险机构投资境外银行股权,应当按照保险资金境外投资有关规定执行。中国保监会将根据金融市场发展状况和保险机构投资能力,适时调整保险机构投资银行股权的资格条件、投资范围和比例规定。
September 21 2006
特此通知
Attachment
二○○六年九月二十一日
MATERIALS TO BE SUBMITTED FOR THE INVESTMENT IN BANK EQUITY BY AN INSURANCE INSTITUTION
附件:
1. Materials to be submitted for the record for a common investment where the Bank Equity investment is to account for less than 5%
保险机构投资商业银行股权申报材料
(1) Basic particulars of the Insurance Institution, including information on corporate governance, risk management, financial position, investment decision procedure and fund custody mechanism, etc.
一、 投资银行股权低于5%的一般投资报备材料
For corporate governance, the share capital structure, organizational structure, duties of directors, functions of special committees, investment operation mechanism and the qualifications of the management team, etc., shall be detailed. For risk management, the previous year's risk management report deliberated on by the board of directors and the written recommendations on the internal controls issued by the external professional firm shall be provided. The risk management report shall detail system establishment, basic elements, principal stages, implementation status, risk position and mitigation measures, etc. For the financial position, the audited financial statements for the most recent three years, notes to the statements and calculation of the main indicators, etc., shall be provided. The calculation of the main indicators shall detail the relevant calculation process, the legal compliance and veracity of the results, etc. For the investment decision procedure, the board resolutions, decision making procedure of the investment decision committee, meeting resolutions and voting results, etc., shall be detailed. For the fund custody mechanism, the basic particulars of the custodian bank, the mechanism for the effective separation of assets, the investment valuation and accounting methods, etc., shall be detailed.
(一) 保险机构基本情况,包括公司治理、风险管理、财务状况、投资决策程序和资金托管机制等。
(2) Basic particulars of the target bank, including its name, place of business, legal representative, scope of business, business qualifications, corporate governance, shareholding structure, asset quality, management capabilities, position in the industry and major indicators, etc. Management capabilities, including growth prospects, profitability, dividend level and liquidity arrangement, etc. For major indicators, the data, source of the data and the opinion issued by the external professional firm shall be detailed.
公司治理应当说明股本结构、组织架构、董事职责、专业委员会职能、投资运作机制和管理团队素质等;风险管理应当提供经过董事会审议的上一年度风险管理报告和外部专业机构出具的内控管理建议书,风险管理报告应当说明制度建设、基本要素、主要环节、执行情况、风险状况和化解措施等;财务状况应当提供最近三年经过审计的财务报表、报表附注和主要指标测算等,主要指标测算应当说明有关测算过程、结果的合规性和真实性等;投资决策程序应当说明董事会决议、投资决策委员会决策过程、会议决议和投票情况等;资金托管机制应当说明托管银行基本情况、资产有效隔离机制、投资估值核算方法等。
(3) A feasibility study on the investment that shall detail the business strengths of the target bank, its historical financial position and the basic particulars of the transferor of the Bank Equity; the Insurance Institution's source of funds, size of the investment, the length of time of the shareholding, the anticipated returns and calculation of the cash flow from returns; main risks, bearing capacity and equity withdrawal plan; and the necessity, feasibility, reasonableness and lawfulness, etc., of the investment.
(二) 拟投银行基本情况,包括拟投银行名称、经营场所、法人代表、营业范围、业务资格、公司治理、股东结构、资产质量、管理能力、行业地位和主要指标等。管理能力包括发展潜力,盈利能力、分红水平和流动性安排等。主要指标应当说明数据、数据来源和外部专业机构出具的意见。
(4) The investment agreement that shall specify the agreed upon transaction method, transaction price, rights and obligations, liability for breach of contract, etc.
(三) 投资可行性研究报告,应当说明拟投银行业务优势、历史财务状况和银行股权转让方基本情况;保险机构资金来源、投资规模、持有期限、预期回报、收益现金流测算;主要风险、承受能力状况和股权退出计划;投资的必要性、可行性、合理性和合法性等。
(5) Other materials specified by the CIRC.
(四) 投资协议应当说明约定的交易方式、交易价格、权利义务、违约责任等。
2. Application materials for a material investment where the Bank Equity investment is to account for between 5% (inclusive) and 10%
(五) 中国保监会规定的其他材料。
(1) Basic particulars of the Insurance Institution that, in addition to the information specified in Item (1) of the materials submitted for the record for a common investment, includes the corporate growth strategy and the plan for the development of the core business after the Bank Equity investment.
二、 投资银行股权5%至10%的重大投资申请材料
(2) Basic particulars of the target bank that, in addition to the information specified in item (2) of the materials submitted for the record for a common investment, shall detail the type of customers of the target bank, its branch distribution, information on its outlets and brand strengths; the board's and management's rules of procedure, decision-making procedure and incentive and constraint mechanisms; plan for the development of its business during the forthcoming three years, etc.
(一) 保险机构基本情况,除一般投资报备材料第一项规定的内容外,还包括公司发展战略和投资银行股权后的主营业务发展计划。
(3) A feasibility study on the investment that, in addition to the information specified in item (3) of the materials submitted for the record for a common investment, includes a financial advisor report, due diligence investigation report, assessment opinions on the financial position, operations and management of the target bank, the legal, financial and business risks to which the investment will be exposed, the proposed investment method, price, transaction arrangements, etc.
(二) 拟投银行基本情况,除一般投资报备材料第二项规定的内容外,还应当说明拟投银行的客户类别、分布结构、网点状况和品牌优势;董事会、管理层的议事规则、决策程序、激励和约束机制;未来三年的业务拓展计划等。
(4) The investment agreement that shall specify that the Insurance Institution will obtain one or more seats on the decision making or supervisory body of the target bank, etc.
(三) 投资可行性研究报告,除一般投资报备材料第三项规定的内容外,还包括财务顾问报告,尽职调查报告,拟投银行财务状况和经营管理评估意见,以及与投资相关的法律、财务和经营风险,建议采取的投资方式、价格、交易安排等。
(5) The comments upon examination of the relevant regulatory authority and other materials specified by the CIRC.
(四) 投资协议应当约定保险机构取得拟投银行一个以上决策或监督机构席位等。
3. Preliminary Examination Materials and Approval Materials for a material investment where the Bank Equity investment is to account for 10% or more
(五) 有关监管机构的审核意见和中国保监会规定的其他材料。
(1) In addition to the information specified for the application materials for a material investment, Preliminary Examination Materials shall, in the feasibility study for the investment, detail the effect that the Bank Equity investment could potentially give rise to, for example, the effect on the financial market, insurance market and the public interest, the effect on the Insurance Institution's economic scale, operational efficiency, financial position, risk controls and management capabilities, and the effect on the Insurance Institution's business growth and profitability in the forthcoming three years, etc.
三、 投资银行股权10%以上的重大投资预审和审批材料
(2) In addition to the information specified for the Preliminary Examination Materials, the Approval Materials shall detail, in the basic particulars of the Insurance Institution, the affiliation of the Insurance Institution with the target bank, its solvency status during the most recent three years, the method of valuing the Bank Equity and the pricing basis; the price quote range for the equity invested in, the timetable, future disposal, remedies, information disclosure and assurance of related interests, etc.
(一) 预审材料除重大投资申请材料规定的内容外,还应当在投资可行性研究报告中说明,投资银行股权可能产生的影响,如对金融市场、保险市场和公共利益产生的影响,对保险机构经济规模、经营效率、财务状况、风险控制、管理能力产生的影响,以及对保险机构未来三年业务发展和盈利能力产生的影响等。
In the basic particulars of the target bank, the target bank's share capital structure, organizational structure, duties of directors, functions of the special committees, investment operation mechanism and the qualifications of the management team; forecast loan situation, information on loan loss provisioning during the most recent three years, non-performing asset term structure, the bank's plan for disposing of non-performing assets and risk reward mechanism, etc., shall be detailed.
(二) 审批材料除预审材料规定的内容外,还应当在保险机构基本情况中说明,保险机构与拟投银行的关联关系,最近三年的偿付能力状况,银行股权的估值方法、定价依据;投资股权的报价区间、时间进度、后续处置、补救措施、信息披露和相关利益保障等。
The feasibility study for the investment shall additionally detail the Insurance Institution and bank's business direction, asset integration and overall capabilities after the Bank Equity investment; the development plan for the forthcoming three years, information on the personnel to be assigned by the Insurance Institution and the bank's management arrangements, etc. The investment agreement shall additionally specify the mechanism for the withdrawal from the Bank Equity investment, etc.
clp reference:3910/06.09.21prc reference:保监发 [2006] 98 号promulgated:2006-09-21拟投银行基本情况还应当说明,拟投银行股本结构、组织架构、董事职责、专业委员会职能、投资运作机制和管理团队素质;预期贷款情况、最近三年贷款损失准备计提情况、不良资产期限结构、银行不良资产处置方案和风险补偿机制等。
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