China boardroom update - Issue 01, January 2009
The China Banking Regulatory Commission (CBRC) issued a circular on 11 December 2008 seeking public comment on eight draft supervisory guidance papers on various aspects of Pillars I, II and III of Basel II. This followed the issuance on 17 October 2008 of the first batch of finalisedsupervisory guidance papers, dated 18 September 2008, on five aspects of Pillar I of Basel II. This issue of China boardroom update discusses the new guidance and the implications for and actions required by Chinese banks.