Recently, the State Administration of Financial Supervision announced a number of bank fines.
State Administration of Financial Supervision and Administration**.
On January 9, the State Administration of Financial Supervision and Administration disclosed relevant penalty information showing that the Hangzhou Branch of Zhejiang Tailong Commercial Bank was fined 2.05 million yuan for 8 violations of laws and regulations, including forced tie-in insurance for loans. On the same day, it was also disclosed that the Zhejiang Branch of the Postal Savings Bank was fined 6.45 million yuan for illegal misappropriation of personal loan funds.
The reporter of China ** Daily and China Securities Taurus noticed that since 2024, many banks have been punished for violations of laws and regulations in loan business and internal control management. Industry insiders said that the disclosure of a large number of fines has released a signal of strict supervision and risk prevention. In the future, the trend of strict supervision may continue, which can further promote the operation of the financial market to be more standardized and orderly.
Entering 2024, the banking industry will continue to strengthen its regulatory posture. The State Administration of Financial Supervision and Administration disclosed three fines on January 5, with China Construction Bank, Bank of China, and China CITIC Bank being fined 1.7 million yuan, 4.3 million yuan, and 4 million yuan respectively, with a total fine of 10 million yuan.
As of January 9, in the administrative penalty information disclosure form disclosed by the provincial bureau (city bureau with separate planning), there are more than 10 fines with a total fine of more than 1 million yuan.
Most of the main violations of laws and regulations in the fines are closely related to the bank's credit business and internal control management. On the one hand, as the core business of banks, credit business has always been the focus of supervision. Taking Chongqing Shizhu Bank of China Fudeng Rural Bank as an example, recently, the village bank was punished by the regulator for misappropriation of loan funds, abnormal capital transactions between employees and borrowing customers, and inadequate management of employee behavior, and the relevant responsible person was given a warning.
On the other hand, there are also a number of fines caused by internal control problems in banks. According to regulatory disclosure information since January, Zhejiang Wuyi Bank of China Fudeng Village Bank was fined 500,000 yuan for inadequate management of employee behavior and abnormal capital transactions between employees and credit customers, and the relevant responsible persons were given warningsChongqing Pengshui Mintai Village Bank was fined 400,000 yuan for cashing out employees' credit cards and failing to manage employees' behaviors, and the relevant responsible persons were given warnings.
Previously, the Banking Institutions Inspection Bureau of the State Administration of Financial Supervision and Administration stated in a column that it should tighten the strings of comprehensively strengthening financial supervision, resolutely achieve "long teeth and thorns", and continuously strengthen inspection capacity building. At the same time, the article also mentions that the focus is on shareholder behavior, senior management performance, related party transactions, liability business, large credit, non-local investment, asset management and other off-balance sheet businesses. Resolutely zero tolerance for major violations of laws and regulations, so that all fines should be imposed, fines and confiscations should be equally severe, and double fines should be imposed at the same time, and those who create major financial risks should be severely punished.