the CBRC said.

(Caijing.com.cn) The banking regulator has formally announced rules restricting commercial banks' use of wealth management funds in a bid to protect investors and help lenders better manage risks.
Compiled by Caijing staff
The restrictions on wealth management operations follow heavy losses absorbed by clients during the global financial crisis,mercurial vapor, with bank practices also coming in for criticism due to insufficient disclosure.

On the other hand,chaussure louboutin pas cher, IPOs will be open to such investments, the CBRC said.
Banks will be not allowed to use funds raised from their wealth management businesses to invest in shares traded on the secondary market or in stock market investment funds,polo ralph lauren, the China Banking Regulatory Commission said in a July 8 statement published on its website. Banks will be also forbidden from using funds from individual wealth management clients to invest in unlisted firms,louboutin pas cher, private placements by listed companies or high-risk financial products with complex structures.
Banks will be not allowed to use funds raised from their wealth management businesses to invest in shares traded on the secondary market or in stock market investment funds.

According to the latest data published by CBRC,ralph lauren pas cher, 479 wealth management products in China,franklin marshall, or 12 percent of the total,mercurial vapor pas cher, recorded book-value losses at the end of the first quarter of 2009.
The pending release and content of the regulations were first reported by Caijing on July 2.


The new rules require banks to carry funds raised for wealth management on their balance sheets and to make provisions for risk.
On the fixed-income front, wealth managers will only be able to invest in certain designated domestic securities, and other securities with at least an AA rating.

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1 yuan = 14 U.S.cents
The balance sheet treatment is expected to result in banks being made to hold more in capital reserves, restricting their ability to expand, analysts told Caijing.

"Many investors thought wealth management products are low risk. But actually, these products include a lot of risky investments,nike mercurial, and the risks are not easily identifiable," a banking analyst told Caijing.


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