Consultation Paper Issued to Regulate the Commercial Banks’ Online Lending Business

作者/编者:Yu Leimin, Wang Rong and Zhang Yushi
作者单位:金杜律师事务所
创作年代:2020
出处/来源:金杜律师事务所
学科分类:商法学
所属机构:金杜律师事务所
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摘要

With the extensive use of the Internet technology, online lending business is booming in recent years. The Interim Measures on the Administration of Personal Loans (the “PL Measures”) and the Interim Measures on the Administration of Working Capital Loans (the “WCL Measures”), both promulgated in 2010, are not able to fully satisfy the new business demands and regulatory requirements generated by the technology developments. As a result, there is an urgent need for the regulators to formulate specific rules regulating the online lending business in order to promote the growth of the industry in a sound and compliance manner. On May 9, 2020 the China Banking and Insurance Regulatory Commission (the “CBIRC”) published the Interim Measures on the Administration of the Online Lending of Commercial Banks (Consultation Paper) (the “Consultation Paper”) on its website, soliciting comments from the public officially. The Consultation Paper puts forward specific requirements for each procedure in the lending process based on the nature of the online lending business comprehensively, but the restrictions on the loan purposes and disbursement methods prescribed in the existing laws and regulations still apply in general.

关键词: Online Lending; Personal Loans; Loan Procedure; Interim Measures

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Consultation Paper Issued to Regulate the Commercial Banks’ Online Lending Business

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