China regulator finalizes guidelines on banks' internet loan businesses


Source: dailymagazine.news dailymagazine.news

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SHANGHAI (Reuters) - China's bank regulator on Saturday tightened requirements on the internet loan business of commercial banks, amid heightened scrutiny of online lending by internet giants such as Ant Group Co, the finance arm of Alibaba Group Holding Ltd. Commercial banks must jointly contribute funds to issue internet loans with a partner, and the proportion of capital from the partner in a loan should not be less than 30%, the China Banking and Insurance Regulatory Commission said in a notice. The balance of internet loans issued by a bank with one partner, including its related parties, must not exceed...