Bank Equity Insurance Standards issued bank holding insurance or accelerated

November 27 Morning News The CBRC announced yesterday the "Pilot management measures for commercial Bank investment insurance companies", the reaction of commercial banks is more exciting, before a bank equity insurance company has been approved by the State Council, the "method" issued may speed up the process.　　"Commercial Bank investment insurance company Equity pilot Management Measures" (hereinafter referred to as "management measures") stipulates that the commercial bank investment in the insurance company's pilot program by the supervision Department submitted to the State Council for approval to determine that each commercial bank can only invest in an insurance company.　　Banks are excited that commercial banks have been trying to get into the insurance industry. Lin Yuhui, general manager of Societe Generale Research and Planning Department, was informed at the first time that the CBRC had issued the "management measures".　　Lin Yuhui to Sina Finance, said, Societe Generale for investment insurance company made some preparations, but there is no mature plan.　　Sina Finance then contacted the Beijing Bank President Shaoyan, the other side claimed not strict himself, but to "management measures" of the introduction showed excitement. Earlier, the news that the regulatory authorities have approved the Beijing bank shares in Pacific Aetna Life Insurance Co., Ltd. and the first Aetna Life Insurance Co.　　The two insurers, detonate of the bank of Beijing's largest shareholder, ING (16.07% per cent of the Beijing Bank), have a 50% per cent stake in ING, in violation of the rules that foreign companies cannot simultaneously take on two Chinese insurers, so ing needs to exit at least one insurer.　　From the provisions of the "management measures", the commercial banks to invest in the insurance company's pilot scheme also to be submitted to the State Council for approval by the regulatory authorities. The Beijing bankers said to Sina Finance, whether the equity insurance companies have been approved "has not yet been decided, there will be news must be published immediately."　　"In addition to the Bank of Beijing, it has been identified as the first batch of participating insurance companies pilot banks, Bank of Communications, Bank of China, ICBC and CCB." In September this year, the bank has been officially announced on its website, the CBRC and the CIRC agreed to make investment in the Sino-Baokang Joint Life Insurance Co., Ltd., accounting for more than 51%, become the first equity insurance company's commercial bank.　　But the follow-up did not disclose the approval of the State Council news. The CIRC also announced that it agreed with BOC to acquire all stakes in the BOC Insurance Company of its Hong Kong subsidiary. The principle agrees that BOC has invested in Heng an Standard Life insurance company through China Silver Insurance Co., Ltd.　　For the proportion of shares in the Heng ' an Standard Life, there is news that it may be close to 50%. ICBC and CCB did not have the shares of the insurance company approved the package of information.　　There are reports that they have a complex path to equity insurance companies.　　CCB intends to participate in the letter Tatsu Asset Management company's subsidiary Happiness Life Insurance Co., Ltd., accounted for 51% of the equity, but also said in the letter Tatsu Assets Transformation Scheme, CCB will participate in the letter Tatsu assets, holding its 49% stake, and the program requires the approval of the State Council. The most complex is ICBC shares in the Taiping Department of Insurance companies. It is reported that Taiping Life, Taiping Insurance, Taiping Endowment and Taiping Assets management four companies of the holding side of the internationalFirst, with Fortis to set up a joint venture, wholly-owned four companies in the Taiping Line, ICBC Capital injection into the joint venture, the final ICBC and China Insurance international accounted for 43.5%, Fortis Holding 13%. In addition, the Bank of China Merchants Bank has announced the approval of its board of directors to invest about 142 million yuan to buy investment letter Connaught Life 50% stake.　　But the takeover plan has been awaiting regulatory approval.　　Which bank wants the big "management measures" to stipulate the entry conditions for commercial banks to participate in insurance companies. "Management measures" said that the commercial banks to invest in insurance companies must have a more perfect corporate governance structure and a sound internal control and table management system, risk management effective, business stable, nearly three years no major violations or major operational risk cases. The capital adequacy ratio of commercial banks intending to invest in insurance companies shall be guaranteed to conform to regulatory standards after deducting the proposed investment.　　The Board of the Commercial Bank of the proposed investment insurance Company shall have personnel familiar with the operation and risk management of insurance business.　　The above provisions have two "hard leverage", one is the capital adequacy ratio "should be guaranteed in the deduction of the proposed investment in line with the regulatory standards", one is "nearly three years no major violations or major operational risk cases."　　At present, the CBRC's demand for the core capital adequacy ratio of commercial banks is 7%. Lin Yuhui said that according to the "management measures" such as capital deduction in the regulation of bank participation in insurance access conditions, will be further evaluation of Societe Generale bank. At the end of the three quarter, Societe Generale's capital adequacy ratio and core capital adequacy ratios were 10.63% and 7.5% respectively.　　The bank recently announced that the allotment of funds not more than 18 billion yuan, if the financing success, its core capital adequacy ratio will be expected to break through 10%. At the end of the third quarter, China Merchants Bank, Pudong Development Bank and the core capital adequacy ratio were 6.61%, 6.76% and 5.2% respectively, the core capital adequacy ratio of Huaxia Bank and Minsheng Bank were 6.84% and 5.9% respectively, which were lower than 7% of the regulatory standards.　　However, Pu FA Bank and China Merchants Bank has through the financing of 15 billion yuan and 22 billion yuan plan, Minsheng Bank recently issued H-share financing of 26.57 billion yuan, its capital adequacy ratio can be raised to 12%, the core capital adequacy ratio will exceed 9%.　　As for the condition that "there are no major violations or major operational risks in the past three years", the "management measures" did not specifically define this, and the Bank of Ningbo had previously exposed 27.5 million yuan deposit transfer cases in Shanghai branch, but no conclusions were reached. The CBRC prefers the big banks, the GF Securities analyst said. At the same time, she said that while the regulatory approach had provided for access conditions, the experience of mixed operations was one of the criteria measured in the actual release of regulatory authorities.　　　　The bank, which was the first to be approved by the regulator, said there was an important reason for the company's mixed operating experience and the detailed report.　　The basic participation of small insurance companies from the existing commercial banks to share the insurance company's news, the size of these insurance companies is basically relatively small. A banking division that declined to be namedThe analyst said that because of the regulations, the capital adequacy ratio of the commercial banks intending to invest in the insurance companies should be in line with the regulatory standards after deducting the proposed investment, and the commercial banks should not sell their subordinated bonds to the insurance companies which they had invested in, so the commercial banks could only share small insurance companies.　　The analyst believes that large-share insurance companies will bring great pressure on the capital of commercial banks, at the same time, the current commercial bank's subordinated debt sales are mainly insurance companies, if the participation of large insurance companies, subordinated debt lost sales target.　　The bank or the holding insurance company "management measures" for the bank shares the insurance company, does not have the participation proportion aspect related stipulation. The analyst, who declined to be named, said there should be a holding if there were no equity ratios.　　GF Securities analysts said that the proportion of equity participation may be between banks and insurance companies to determine each other.　　From the actual cases passed before, it is indeed possible to hold.　　In addition, from the regulation of the provisions on the provisions of the table, also did not exclude commercial banks holding insurance companies.　　"Management measures" stipulates that commercial banks shall, in accordance with the provisions of the China Banking Regulatory Commission's Bank regulation guidelines (trial), establish policies, systems, duties and procedures for the management of their shares of insurance companies, and implement effective and table management.　　　　In the Bank's compliance guidelines (for trial implementation), 6 types of needs and tables are listed, including 4 types of parent banks controlling the investment institutions and the two subsidiaries having a significant impact on the parent bank. The "administrative measures" of foreign banks or controlled insurance companies stipulates that "commercial banks referred to in these measures refer to commercial banks approved by the China Banking Regulatory Commission (CBRC) in the territory of the PRC."　　"The above definition does not preclude the establishment of foreign-funded banks in China."　　GF Securities analysts said that if there is no restrictions on foreign-owned Chinese corporate banks, the pilot should not have foreign banks, because it will not be put so fast. In fact, foreign banks have already had a number of Chinese-funded insurance companies, but there is no more than 50% of the ceiling.　　The "management measures" of the proportion of the bank's share of insurance companies did not say that, in the light of all the circumstances, the bank is able to take the holding of insurance companies, I do not know whether it means that foreign-owned Chinese corporate banks can also hold already have China insurance companies. At present, Citigroup, HSBC, Standard Chartered, JPMorgan Chase, Societe Generale, Deutsche Bank, Bank of East Asia and other well-known banks have set up China's corporate banks. (The text will come from Beijing)