How to supervise online p2p loans

The latest national policy to rectify online lending

Since October 2016, special rectification of the online lending industry has been officially launched. The country’s attitude has become increasingly clear and clear, which is to digest and rectification work led by resolving existing risks and guiding cleanup and transformation. Remediation work will be gradually implemented in 2017 and 2018. In 2019, one of the country's major strategies is to focus on clearing and retreating and provide appropriate guidance and transformation. Various localities have introduced some policies to clear out the online lending industry. From the second half of 2019 to now, about 10 provinces have issued guidance, management methods, or documents to guide the orderly and smooth exit of online lending platforms.

1. The essence of Internet finance is still finance, and it has not changed the hidden, contagious, widespread and sudden characteristics of financial risks. Strengthening Internet financial supervision is an inherent requirement to promote the healthy development of Internet finance. At the same time, Internet finance is a new thing and an emerging industry. It is necessary to formulate moderately loose regulatory policies to leave room and space for Internet financial innovation. By encouraging innovation and strengthening supervision to support each other, we will promote the healthy development of Internet finance and better serve the real economy. Internet financial supervision should follow the principles of "legal supervision, appropriate supervision, classified supervision, coordinated supervision, and innovative supervision", scientifically and rationally define the business boundaries and access conditions of each business format, implement supervisory responsibilities, clarify the bottom line of risks, protect legitimate operations, and resolutely Crack down on illegal activities and irregularities.

2. Online lending includes individual online lending (i.e. P2P online lending) and the Internet. Individual online lending refers to direct lending between individuals through the Internet platform. Direct lending activities that occur on individual online lending platforms belong to the category of private lending and are regulated by laws and regulations such as Contract Law, General Principles of Civil Law, and relevant judicial interpretations of the Supreme People's Court. Network refers to what Internet companies provide to customers using the Internet through companies they control. Networks should abide by existing corporate regulatory regulations, leverage the advantages of online lending, and strive to reduce customer financing costs. The online lending business is supervised by the China Banking Regulatory Commission.

3. The supervision of online loan platforms has gone from a peak of five to six thousand to only 29 in operation by the end of June. The special rectification work may be basically completed by the end of the year and will be transferred to regular supervision

< p>How does the China Banking Regulatory Commission supervise P2P?

How does the China Banking Regulatory Commission supervise P2P?

Currently, the China Banking Regulatory Commission has restructured its structure, added an inclusive finance department, and specified that this department will supervise the P2P industry

Reference: rylc9.

Still now It is still in the negotiation stage, but it will definitely improve entry standards and help companies establish risk control systems. Third-party hosting like Heera is the industry standard.

When will p2p be included in the supervision of the Central Bank and Banking Regulatory Commission?

. . . . . . You are thinking too much

p2p belongs to private lending, not financial institutions, and cannot be supervised by the China Banking Regulatory Commission~~At most, it will only issue regulations~~~

When will the Banking Regulatory Commission start to supervise p2p< /p>

The specific supervision time has not yet been determined. For the first time, the China Banking Regulatory Commission proposed the following ten regulatory principles:

First, P2P supervision must follow the nature of P2P business. The so-called essence of business is that projects must be corresponding one by one. , P2P institutions cannot hold investors’ funds and cannot establish fund pools. Our P2P is not a financial institution that operates funds.

The second is to implement the real-name principle. Investors and financiers must register with real names, and the flow of funds must be clear. All countries have very high principles for opening accounts to avoid violating anti-regulations.

Third, it is necessary to make it clear that P2P institutions are not credit intermediaries. Credit intermediaries bear credit risks. They are not trading platforms but information intermediaries. P2P is an institution that provides information services for small loans between both parties. It should be clear that its The business boundary should be distinguished from other legally chartered financial services.

Fourth, P2P should have certain industry thresholds. P2P information platforms are highly professional in analyzing, selecting news information, and providing reference credit analysis, and should have certain thresholds. Practitioners should There should be certain requirements for registered capital, professional background, years of experience, and organizational structure of senior executives. At the same time, there should also be certain qualification requirements for their risk control, IT equipment, fund custody, etc. P2P institutions should prepare risk assessments, risk warnings, and investment and financing limits.

Fifth, investors’ funds should be placed in third-party custody, and deposits cannot be used in place of custody. Custody is an independent regulatory act. At the same time, formal audit mechanisms should be introduced as much as possible, so that P2P institutions cannot touch the money themselves. This is also to avoid illegal fund-raising for everyone.

Sixth, P2P institutions are not allowed to provide guarantees for investors, are not allowed to provide guarantees for investors themselves, are not allowed to make commitments for loan principal or income, and do not bear systemic risks and liquidity risks, but are only providers of information. , are not allowed to engage in loan and entrusted investment business, and are not allowed to insure and finance themselves. This is also to avoid illegal fund-raising, etc.

Seventh, follow the path of sustainable development and do not blindly pursue high-interest financing projects. We are happy to see that the interest rates that regulate P2P institutional financing have gradually declined and are close to a reasonable level.

Eighth, the P2P industry should fully disclose information, fully improve the level of information disclosure, and reveal risks. It must not only disclose its own management and operational information to the market, but also provide risk warnings to investors and carry out External audits required.

Ninth, P2P investor platforms should promote the formulation and implementation of industry rules and strengthen the role of industry self-discipline.

Tenth, we must adhere to the principle of small amounts, support the development of individuals and small and micro enterprises, and one-to-one correspondence between projects.

Once the China Banking Regulatory Commission regulates p2p, how much income will drop

It’s hard to say.

It will definitely drop, but the mutual loan I invested in has not dropped yet.

Are p2p financial management companies regulated by the China Banking Regulatory Commission?

Yes, it is regulated

Yes, the relevant regulatory policies have been issued. It is now a transitional stage, so if you choose a platform now, you can first check whether the platform has bank deposits. No, if there is no hosting platform yet, just block it decisively.

Does the China Banking Regulatory Commission directly supervise p2p?

It is certain that the P2P industry is under the supervision of the China Banking Regulatory Commission.

On December 28, the China Banking Regulatory Commission issued the "Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries (Draft for Comment)". This is the first time that Chinese officials have released specific regulatory ideas for the online lending industry (P2P industry), which has been developing for many years.

Why the interest rates of p2p companies under the supervision of the China Banking Regulatory Commission have dropped

There are no hard and fast regulations on online loans. What has dropped is only the income of investors. It should be because the income is too high for real enterprises to bear.

After the China Banking Regulatory Commission makes institutional adjustments, which department will supervise P2P?

It will be managed by the Inclusive Finance Department under the China Banking Regulatory Commission.

The following are the specific details of the restructuring of the China Banking Regulatory Commission:

Supervision in accordance with the law, supervision for the people, and risk supervision. The China Banking Regulatory Commission implements regulatory structure reforms in order to conscientiously implement the 18th National Congress of the Communist Party of China and the 18th National Congress of the Communist Party of China. The Third and Fourth Plenary Sessions of the Central Committee of the Communist Party of China made major decisions on deepening financial reform, promoting legal supervision, and the State Council's requirements for transforming its functions. The Party Committee of the China Banking Regulatory Commission combined the Party's mass line education and practice activities with opinions and suggestions from all aspects on improving the bank regulatory governance system and governance capabilities. Drawing lessons from the common practices of countries around the world in strengthening financial supervision after the crisis, in accordance with the requirements of the Party Central Committee and the State Council on not adding new institutions and staffing this term, focusing on the reform and development of the banking industry and supervision for the people under the new economic normal, the regulatory organizational structure of the China Banking Regulatory Commission has been revised Major reforms were approved by relevant central departments.

The reform content includes: First, in accordance with the idea of ​​separating the formulation and implementation of regulatory rules, the separation of prudential supervision and behavioral supervision, the separation of administrative affairs and supervision matters, the separation of on-site inspections and supervision penalties, from regulation The four lines of supervision, functional supervision, institutional supervision and supervision support have re-divided responsibilities and adjusted the establishment of internal institutions. The second is to abolish two departments (training center and information center) and establish a City Commercial Bank Supervision Department to oversee the supervision of city commercial banks, city credit cooperatives and private banks; to establish a Trust Supervision and Management Department to oversee the trust industry finance Regulatory responsibilities of the agency. The third is to transform three departments (Statistics Department, Banking Industry Case Inspection Bureau, and Financing Guarantee Business Department), establish a Prudential Regulation Bureau, take the lead in off-site supervision work, and be unified responsible for the formulation of various rules for prudent operation of the banking industry; establish an on-site inspection bureau , responsible for on-site inspections of national banking financial institutions; established a banking industry inclusive finance work department to take the lead in promoting inclusive finance work in the banking industry. Fourth, the regulatory departments of each institution are named according to their regulatory responsibilities. The Banking Supervision Department I is the Supervision Department of Large Commercial Banks; the Banking Supervision Department II is the National Joint-stock Commercial Bank Supervision Department; the Banking Supervision Department III is the Foreign Bank Supervision Department; the Banking Supervision Department IV is the Policy Bank Supervision Department; and the Cooperative Financial Institutions Supervision Department is the Rural Affairs Department. Ministry of Supervision of Small and Medium-sized Financial Institutions.

The core of this reform of the regulatory structure is regulatory transformation: a shift to legal supervision, strengthening on-site inspections and in-process and post-event supervision, and fulfilling responsibilities when authorized by law; a shift to classified supervision to improve the effectiveness and pertinence of supervision ; Shift to supervision for the people and enhance the synergy of financial services in weak links; further strengthen risk supervision to maintain the bottom line of preventing systemic and regional risks.

First, strengthen the main business of supervision, allocate resources, and improve the level of professional supervision. In the 10 years since the establishment of the China Banking Regulatory Commission, the banking industry has undergone tremendous changes in terms of asset size and business complexity. In particular, small and medium-sized banks and non-bank financial institutions have developed steadily and provided multi-level and diversified financial services to the real economy. The reform, innovation and development of the banking industry urgently require regulatory authorities to improve their professional supervision level. This reform of the regulatory structure will tilt the limited institutions and staffing towards front-end regulatory departments. After the adjustment, among the 22 internal departments, the number of regulatory departments has increased from 11 to 17, accounting for 77.3% of the total number of departments. The differentiated and professional supervision system is more complete, and the boundaries of responsibilities between departments are clearer, which is more conducive to counterpart liaison with various ministries and commissions and work guidance for the CBRC’s dispatched offices.

The second is to strengthen supervision according to law. Those authorized by law must fulfill their responsibilities to enhance the deterrence of supervision. In accordance with the requirements of the central government to govern the country according to law, this reform of the regulatory structure has laid a major institutional foundation for promoting inspection, law enforcement and administrative penalties, aiming to enhance the CBRC's ability to administer according to law and perform its duties according to law.

The On-site Inspection Bureau will integrate the on-site inspection forces of the China Banking Regulatory Commission to strengthen the investigation and handling of illegal business activities and illegal cases. Other regulatory departments will no longer assume on-site inspection responsibilities. The on-site inspection bureau will follow the principles of "information sharing, separation of investigation and punishment, and appropriate combination" to strengthen work linkage with relevant regulatory authorities in terms of market access, daily supervision, and administrative penalties. Strengthen the Regulation Department in drafting, formulating and reviewing regulatory laws and regulations, and undertake the specific work of the Administrative Penalty Committee and the Administrative Reconsideration Committee. The adjusted regulatory framework will highlight the authority and professionalism of supervision, further improve the level of regulatory enforcement, standardize administrative penalties, increase punishment for violations, and enhance regulatory deterrence. After this reform of the regulatory structure, the China Banking Regulatory Commission will establish a "power list", "responsibility list" and "restraint list" at different levels, promote the construction of regulatory service websites, further improve the disclosure of government information and improve regulatory transparency, so as to strengthen self-restraint and strengthen regulatory issues. responsibility.

The third is to strengthen the clarification of rights and responsibilities, streamline administration and delegate power, and reserve space for innovation. The focus of this reform of the regulatory structure is to reduce and decentralize administrative powers, clarify the responsibilities of risk regulatory entities, and strengthen in-process and ex-post supervision. In line with the principles of risk-based, legal person supervision and territorial responsibility, the CBRC has further clarified the risk supervision responsibilities and powers between the CBRC and its local offices. For national institutions, the main responsibility for risk supervision is mainly borne by the regulatory departments of the CBRC. , the dispatched offices shall bear corresponding supervisory assistance responsibilities; for local institutions, the China Banking Regulatory Commission will only review and approve the new establishment, market exit, restructuring and bankruptcy reorganization of legal person institutions, and other market access powers will be delegated to the Banking Regulatory Bureau, and shall be administered by The local branch office in the place of registration shall bear the main responsibility for risk supervision, and the corresponding regulatory department of the Federation shall bear the guidance responsibility. At the same time, in accordance with the requirements of combining decentralization and regulation, and on the basis of clarifying the division of responsibilities and decentralizing regulatory powers, the China Banking Regulatory Commission has established a post-evaluation mechanism for the CBRC's performance of access management and regulatory due diligence by the branch offices, and established a negative list and accountability list for administrative licensing. , whenever dispatched agencies fail to fulfill their supervisory responsibilities for territorial entities, the General Assembly will restrict or withdraw supervisory powers depending on the situation, so as to achieve differentiated authorization and strict accountability for dispatched agencies based on their ability to perform their duties. After adjustment, power will be returned to the market, power will be transferred to society, and power will be delegated to the grassroots.

The fourth is to strengthen top-level design, unify standards, and promote policy and regulatory coordination. Financial supervision is part of the country's modern governance system. Strengthening the top-level design of comprehensively deepening the reform of the banking industry and the construction of a prudent supervision and regulation system is an important task for improving financial supervision. In this reform of the regulatory structure, the Prudential Regulation Bureau will ensure the uniformity of the standards of various prudential regulatory rules of the China Banking Regulatory Commission; strengthen the leading function of the Policy Research Bureau in the top-level design and organizational implementation of comprehensively deepening reforms in the banking industry, and be responsible for coordinating with macroeconomic departments and Local governments carry out policy coordination, formulate major policies for the banking industry to serve the development of the real economy, and conduct predictive analysis and forward-looking research on the macro-economic and financial situation and major regulatory issues. The new framework will better promote the stable operation and fair competition of various banking financial institutions.

The fifth is to strengthen financial services, merge functional supervision, and strengthen the joint efforts of supervision for the people and services for weak links. In order to adapt to the needs of the existing business layout and situation and implement the requirements of the Party Central Committee and the State Council to "promote development with one hand and prevent risks with the other", this regulatory structure reform coordinates the banking industry's financial services and vigorously develops inclusive finance. In accordance with the supervision orientation of serving the people, the Banking Inclusive Finance Working Department will strengthen its overall responsibilities in serving weak links such as small and micro enterprises, rural areas and farmers, and in the supervision and coordination of non-licensed institutions such as small loans, online loans, and financial guarantees. The responsibilities of functional regulatory departments such as the Innovation Department, Consumer Protection Bureau, and Information Technology Department have been further clarified and strengthened, and the structural system for effective linkage between functional supervision and institutional supervision has been improved. The adjusted structure improves the division of labor and cooperation between functional supervision and institutional supervision, and better guides banking financial institutions to improve the quality and efficiency of financial services.

The China Banking and Insurance Regulatory Commission should regulate P2P

Recently, a staff member of a China Banking and Insurance Regulatory Commission said in response to lenders’ demands: “We don’t care about P2P, we only care about licensed banks, insurance companies, etc. ?" Such a reply is not only a disregard for national laws and policies, but also a disregard for the damage to the property of the majority of lenders, but I would like to say that this is a contempt for the cognitive ability of financial consumers. Why is the Banking and Insurance Regulatory Commission supposed to regulate P2P?

First, direct authorization by regulations. The legal basis for administrative supervision is the direct authorization and entrustment of laws, regulations, and rules. Therefore, the implementation of regulations is the scope of administration according to law. According to the provisions of Article 2, Paragraph 2 of the Administrative Litigation Law, “the so-called administrative acts include administrative acts performed by organizations authorized by laws, regulations, and rules.” As early as 2015, with the consent of the Party Central Committee and the State Council, the Chinese People’s The Bank and other nine ministries and commissions jointly formulated and issued the "Guiding Opinions on Promoting the Healthy Development of Internet Finance" (Yinfa [2015] No. 221); in 2016, with the approval of the State Council, the Banking Regulatory Commission and other four ministries (offices) jointly formulated the Guidelines on Promoting the Healthy Development of Internet Finance in accordance with multiple laws and regulations. The "Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries" (CBRC Order [2016] No. 1) were issued. These two multi-agency joint regulations within the scope of law clearly stipulate the supervisory responsibilities of the China Banking Regulatory Commission. The "Guiding Opinions on Promoting the Healthy Development of Internet Finance" stipulates, "(8) Online lending. Online lending includes individual online lending (i.e., P2P online lending) and the Internet. Individual online lending refers to transactions between individuals through the Internet platform. Direct Lending.

Individual online lending must adhere to the platform function. The nature of the information intermediary must be clarified. It mainly provides information services for direct lending between borrowers and lenders. It is not allowed to provide credit enhancement services and is not allowed to illegally raise funds. The online lending business is supervised by the China Banking Regulatory Commission. "Article 4 of the "Interim Measures for the Management of Business Activities of Online Lending Information Intermediaries" stipulates, "The banking regulatory agency of the State Council and its dispatched agencies are responsible for formulating a supervision and management system for the business activities of online lending information intermediaries and implementing behavioral supervision. "Article 33 stipulates, "The banking regulatory agency of the State Council and its dispatched agencies are responsible for formulating unified standardized development policies and measures and supervision and management systems, responsible for the daily behavioral supervision of online lending information intermediaries, and guiding and cooperating with local people's governments. We will do a good job in institutional supervision and risk management of online lending information intermediaries, and establish a cross-department and cross-regional supervision and coordination mechanism. "In summary, the China Banking and Insurance Regulatory Commission should manage P2P online lending business, management systems, and implementation behaviors, and guide risk control and department coordination. It needs to be said that the above two regulations were led or participated in the formulation and issuance of the zg China Banking and Insurance Regulatory Commission, but now they are No enforcement! This shows how serious the situation of poor financial supervision and obstruction of laws is!

Second, the Banking and Insurance Regulatory Commission staff said that we only have financial licenses. Where is the legal basis? Who is responsible for illegal financial activities without a license? Let’s first clarify what a financial license is. Simply put, it is said to have a financial license if it is approved and registered by the financial regulatory department. It is regarded as not having a financial license. According to the logic of a staff member of the China Banking and Insurance Regulatory Commission: the banking regulatory agency only controls those that have been approved and registered by the financial regulatory authorities. P2P online lending institutions do not have licenses, approvals and registrations, so we do not care about them. The reception staff said that regardless of whether p2p is an act of performing their duties, which agency should have the final say? Who should control unauthorized establishment of financial institutions and illegal financial activities as stipulated in the Commercial Banking Law? "Article 11, paragraph 2, stipulates, "Without the approval of the banking regulatory agency of the State Council, no unit or individual may engage in commercial banking business such as taking deposits from the public. "Article 19 of the Banking Supervision Law stipulates, "Without the approval of the banking regulatory agency of the State Council, no unit or individual may establish a banking financial institution or engage in the business activities of a banking financial institution. "What to do if you violate the regulations? Article 81 of the "Commercial Bank Law" and Article 44 of the "Banking Supervision and Administration Law" both stipulate that the banking regulatory agency of the State Council shall ban it; if it constitutes a crime, criminal liability shall be investigated in accordance with the law. Therefore, the banking regulatory agencies must supervise all financial institutions and those engaged in financial activities, that is, they must control both those established in accordance with the law and those established illegally; they must control both those with approval and those operating without authorization. It is necessary to control both those with business licenses and those without business licenses.

Whether P2P online lending institutions are illegally established and illegally engaged in financial business activities requires the China Banking and Insurance Regulatory Commission to supervise and manage according to law. . It has now been confirmed that "Internet finance is still financial in nature" and P2P online lending platforms are Internet financial institutions and are engaged in financial intermediary service activities. None of these platforms have been registered with the financial regulatory authorities and are unapproved or licensed (unlicensed) corporate platforms. According to the judgments in many places that have taken effect, the two online lending platforms are naturally engaged in illegal financial business activities. , in accordance with the requirements of laws and regulations, the banking regulatory agency should regulate

May 20, 2021

Which department regulates online lending

Supervised by the China Banking Regulatory Commission.

It is specifically supervised by the Online Lending Research Office of the Inclusive Finance Department of the China Banking Regulatory Commission. The "Online Lending Research Office" is the specific department responsible for P2P supervision under the Inclusive Finance Department of the China Banking Regulatory Commission. Liu Bin, a researcher from the Inclusive Finance Department, presided over the specific work. However, it was not found out what this research office did. It will be seen later that P2P rectification is still carried out by the Online Lending Rectification Office.

This ends the introduction on how to supervise online p2p loans and how to supervise p2p. I wonder if you have found the information you need?