强化风险防控，商业银行托管业务迎来监管新规

Core Viewpoint - The newly released regulatory framework for commercial bank custody services aims to enhance risk management, service quality, and transparency in the industry, with a transition period for existing businesses until February 1, 2029 [1][3][12] Group 1: Regulatory Framework - The National Financial Supervision Administration has issued the "Supervision and Management Measures for Commercial Bank Custody Business (Trial)" which will take effect on February 1, 2026, and includes a three-year rectification period for existing businesses [1][7] - The new measures require banks to identify and assess risks accurately, strengthen risk management systems, and enhance the independence of custody services [1][3] Group 2: Basic Services - The measures specify seven types of basic services that banks can provide, including account opening, asset custody, clearing and settlement, accounting, asset valuation, information disclosure, and investment supervision [2][8] - Banks must sign custody contracts that clearly outline compliance, risk disclosure, and the rights and obligations of all parties involved [2][8] Group 3: Prohibitive Duties - The measures outline eight prohibited duties and behaviors for banks in custody operations, aiming to clarify responsibilities and prevent excessive risk-taking [4][10] - New prohibitions include not providing liquidity support or financing commitments for custody products and not disclosing information on behalf of product managers [11] Group 4: Market Impact - The implementation of these measures is expected to reshape the custody business ecosystem by eliminating "pseudo-custody" practices and promoting competition based on service quality rather than risk coverage [4][10] - The measures aim to correct the misconception that bank custody equates to implicit guarantees, thereby establishing a clear risk isolation framework [5][11] Group 5: Transition and Compliance - Banks are required to conduct a comprehensive review of existing businesses, establish a problem ledger, and develop a phased rectification plan by February 1, 2029 [12] - Internal systems must be improved, operational processes revised, and staff trained to ensure compliance with the new regulations [12]