What Is an Authorized Bank?

In order to guarantee the effective implementation of the first-level legal person system of China's commercial banks, strengthen the unified management and internal control of commercial banks, strengthen the ability of commercial banks to prevent and control risks, and protect the public and the legitimate rights and interests of commercial banks themselves, ", The" Commercial Bank Law of the People's Republic of China "and the" Economic Contract Law of the People's Republic of China "and other relevant laws and regulations to formulate these measures.

Bank authorization

Right!
In order to guarantee the effective implementation of the first-level legal person system of China's commercial banks, strengthen the unified management and internal control of commercial banks, strengthen the ability of commercial banks to prevent and control risks, and protect the public and the legitimate rights and interests of commercial banks themselves, ", The" Commercial Bank Law of the People's Republic of China "and the" Economic Contract Law of the People's Republic of China "and other relevant laws and regulations to formulate these measures.
Chinese name
Bank authorization
Legal basis
Article 42 A commercial bank shall, in accordance with these Measures and the relevant provisions of the People's Bank of China, formulate the Bank's authorization and credit management measures.
Article 43 A commercial bank shall separately authorize its overseas branches in accordance with the relevant laws, regulations and international practices of China and the country (region) in which it is stationed, and report it to the relevant supervisory department of the People's Bank of China for the record.
Article 44 If the relevant authorization and credit provisions in various rules and regulations of a commercial bank conflict with these Measures, these Measures shall prevail.
Article 45 The interpretation of these measures is the responsibility of the People's Bank of China.
Article 46 These Measures shall be implemented as of the date of promulgation.

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