BEIJING, Jan. 30 -- China has asked the European Union to reconsider proposed supervision rules that require non-EU financial institutions with assets of 30 billion euros or above to set up parent holding companies, a central bank statement said Tuesday.
The European Commission, the executive of the EU, proposed in November 2016 that certain non-EU financial institutions above the threshold consolidate their EU activities under holding structures called intermediate parent undertakings (IPUs), which would mirror similar regulatory moves in the United States.
In a joint letter issued by the People's Bank of China and China Banking Regulatory Commission in response to the latest suggestions by the Council of the EU in November with regards to IPUs, China reminded the EU authorities that Chinese authorities have not set up IPU requirements in this respect yet.
The 30 billion euro threshold was too low, in contrast to the U.S. threshold of 50 billion U.S. dollars and also excluded banks in a statistical range, the joint letter said, noting that the high cost in meeting the requirements may outweigh supervision results.
The letter asked the European authorities not to include the total assets of branches at non-EU financial institutions in their calculations on the setting-up of an IPU and not to include subsidiary banks into the IPU framework, since the moves were considered unnecessary for the time being.
"China has signed multiple memorandum of understanding on cooperation with many EU countries and held joint meetings to strengthen supervision cooperation with these countries and to ensured sound and stable run of branches of Chinese banks within EU jurisdiction," the statement said.
国际英语资讯:Plane crashes near Havana with 104 passengers on board
体坛英语资讯:Review: Liverpool march on as Man City miss Laporte in Premier League
Bleed someone dry “放干某人的血”其实是“榨干钱财”的意思
2018年6月英语四级作文范文:网上免费下载歌曲
体坛英语资讯:Preview: Age and balance to decide FIBA World Cup title match
滴滴出行公布顺风车整改措施 暂定夜间接单
国际英语资讯:Macron, Merkel call for end to Turkish offensive in north Syria
国际英语资讯:UN Human Rights Council to investigate violations in Gaza
打脸!川普改变口风,不对中兴制裁了
国内英语资讯:Xi-Modi informal meeting achieves fruitful results: Chinese vice FM
Prince Harry and Meghan Markle's romance 哈里王子和梅根·马克尔的爱情之旅
国内英语资讯:Chinese vice premier calls for high-quality development of Xiongan New Area
国际英语资讯:Spain approves measures to mitigate effects of Thomas Cook bankruptcy
国际英语资讯:U.S. to withdraw troops from northern Syria: Pentagon chief
只因一个小数点 印度男子却因此自杀
洗衣服挂衣服很简单?方法不当可能毁掉你的美衣
国内英语资讯:China, Nepal upgrade ties
国内英语资讯:SCO security council secretaries meeting to be held in Beijing
国际英语资讯:Putin urges U.S. to support extending nuclear arms reduction treaty
你知道吗?为什么鼻子每次只堵一边?
Fake, counterfeit and bogus 三个表示“假”的形容词
国际英语资讯:Armed student opens fire in U.S. high school, killing 10 people
国内英语资讯:China will further cut red tape to spur foreign investment
你知道吗?为什么鼻子每次只堵一边?
体坛英语资讯:Zamalek lift Egypt Cup after penalty shootout with Smouha
国内英语资讯:Chinese president meets BFA Chairman Ban Ki-moon
国际英语资讯:Peace requires political will, courage from all sides: UN deputy chief
你听到的是Yanny还是Laurel?正确答案来了!
刚果民主共和国埃博拉疫情蔓延
体坛英语资讯:Brazilian surfer Ferreira eliminated from Rio Pro