China Banking Regulatory Commission, Tentative Measures for the Administration of Personal Loans

中国银行业监督管理委员会个人贷款管理暂行办法

April 16, 2010 | BY

clpstaff &clp articles &

Loans with unspecified purposes not allowed.

Clp Reference: 3510/10.02.12 Promulgated: 2010-02-12 Effective: 2010-02-12

Promulgated: February 12 2010

Effective: as of date of promulgation

Applicability: The Measures apply to the operation of personal loan business by banking financial institutions approved to be established within the PRC by the China Banking Regulatory Commission (the Lender) (Article 2).

The term “personal loans” refers to loans in a domestic or foreign currency granted by the lender to qualified natural persons for personal consumption, and production and other business operations (Article 3).

Main contents: Lenders shall establish a system for management of personal loan risk limits for different districts, types and customer groups (Article 6). Lenders may not grant personal loans for unspecified purposes (Article 7).

Related legislation: PRC Banking Regulation Law (Revised), Oct 31 2006; and PRC Commercial Banking Law (Revised), Dec 27 2003

clp reference:3510/10.02.12promulgated:2010-02-12effective:2010-02-12

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