引导行业规范健康发展 《地方资产管理公司监督管理暂行办法》出台

Core Viewpoint - The introduction of the "Interim Measures for the Supervision and Administration of Local Asset Management Companies" aims to enhance the regulatory framework for local asset management companies, improve risk management, and ensure compliance within the industry [1][3]. Group 1: Regulatory Framework - The "Measures" consist of four chapters and forty-five articles, covering general principles, business operations and risk management, supervision, and supplementary provisions [1]. - The goal is to solidify the sustainable development foundation of local asset management companies and enhance their role in mitigating regional financial and real economy risks [3]. Group 2: Business Operations - The "Measures" specify the business scope, operational ratios, operational regions, and the types of assets that local asset management companies can acquire, emphasizing a focus on their primary responsibilities [3]. - It regulates the handling of non-performing assets, including debt recovery and external transfers, and sets clear operational boundaries, prohibiting practices such as guaranteed principal returns and the creation of hidden local government debts [3]. Group 3: Risk Management - The "Measures" impose strict risk management requirements, including limits on investment balances with single clients and groups, which cannot exceed 10% and 15% of the company's net assets, respectively [4]. - It mandates that local asset management companies maintain quality liquid assets to cover net cash outflows for the next 30 days and restricts total debt exposure to related parties to 50% of the previous quarter's net assets [4]. - External financing is also regulated, with a cap on borrowed funds not exceeding three times the company's net assets to prevent risk spillover [4]. Group 4: Supervision Responsibilities - The "Measures" clarify the division of supervisory responsibilities, assigning provincial financial management institutions the overall responsibility for supervising local asset management companies and managing risks [4]. - The financial regulatory authority and its local branches are tasked with enhancing information sharing and collaboration to guide the industry towards standardized and healthy development [4].