The China banking and insurance regulatory commission, the country’s top banking and insurance regulator, had started soliciting public opinions on interim measures for the implementation of resolution plans of the banking and insurance institutions whose assets amount to a certain scale.
BEIJING: China will launch standardised and unified requirements for large and medium-sized banking and insurance institutions to make resolution plans.
Commonly known as “living wills”, resolution plans are detailed strategies for orderly resolution of material financial distress or failure of institutions. They help prevent systemic risks and maintain financial stability during such circumstances.
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