CBRC: Commercial banks should take effective measures to monitor the use of loans

China News Service, July 15th. On the 15th, the China Banking and Insurance Regulatory Commission issued the "Notice of the China Banking and Insurance Regulatory Commission on Strengthening the Management of Internet Loan Business in Commercial Banks and Improved Financial Services".

The "Notice" requires to strengthen the management of loan funds.Key links such as loan fund issuance, principal and interest recovery deduction, and stop payment are independent of the bank, and the instructions are initiated by the bank.If you use autonomous payment, the funds shall be issued directly to the borrower's bank account; if the trustee pays, the commercial bank shall fulfill the trusted payment responsibility and finally pay the loan funds to the transaction object that complies with the borrower's contract.Commercial banks shall independently and complete the amount of account flow information such as loan funds, principal and interest recovery, etc., actively strengthen the management of loan funds, and take effective measures to monitor the use of loan to ensure the security of loan funds and prevent cooperation agencies from interception, gathering, and misappropriation.

- END -