FSA to consider relaxation of investment restrictions of banks August 31 18:46
In order to make it easier for banks to support small and medium-sized enterprises suffering from the effects of the new coronavirus, the FSA has decided to consider relaxing regulations that set limits on the amount that banks can invest in enterprises.
According to a new financial administration policy announced by the Financial Services Agency on the 31st, a bank that supports the financing of small and medium-sized enterprises said, It's important," he said, calling for more than just financing.
In principle, banks can directly invest in companies with an upper limit of 5% and holding companies of banks are 15%, but the deadline is limited for companies in some industries such as regional trading companies and IT ventures. The percentage that can be invested in has been increased.
While the effects of the new coronavirus continue, the Financial Services Agency is considering deregulation on investment, such as expanding the industries to which this exception applies and extending the period.
In addition, the financial administration policy announced this time promotes the acceptance of financial institutions and human resources against the backdrop that overseas financial institutions will be increasingly involved with the Chinese government and the movement of relocating their bases from Hong Kong will spread. Therefore, a policy to consider necessary tax measures and English-language administrative procedures was also included.