Last Updated on September 25, 2022 by Bitfinsider

In an effort to safeguard the financial system, China’s central bank and banking regulator together released a list of 19 banks on Friday, September 9, for the year 2022.

According to a joint announcement from the People’s Bank of China and the China Banking and Insurance Regulatory Commission (CBIRC), the list of banks includes six state-owned commercial banks, nine joint-stock commercial banks, and four city commercial banks.

Banks that are considered to be systemically important are subject to higher capital requirements ranging from 0.25 to 1.5% as well as additional leverage requirements.

To encourage systemically important banks’ stable and healthy operation and development, the authorities will also step up their oversight of those institutions, according to the statement.

The only bank on the list to have a changed capital need from last year is joint-stock commercial bank China Minsheng Banking, which will be subject to a higher additional capital requirement of 0.5 percent from 0.25 percent, according to the statement.

The Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China are four of the largest banks in the nation.

Mid-sized banks like China Everbright Bank and Ping An Bank are also included.

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