撤回申请！9000亿级城商行，大消息！

Core Viewpoint - The ongoing adjustments in the queue for fund custody license applications are primarily due to the increased entry barriers set by new regulations, leading to a significant reduction in the number of institutions applying for such licenses [6][7]. Group 1: Current Status of Fund Custody License Applications - As of now, only two institutions remain in the queue for fund custody qualifications: Mongolian Merchant Bank and Dongwu Securities, with their application dates being January 28, 2021, and October 17, 2022, respectively [3]. - Guangzhou Bank, which had over 900 billion in assets, has withdrawn its application, marking the sixth institution to do so this year [3][4]. - Chengdu Rural Commercial Bank also withdrew its application earlier this year, having joined the queue in December 2022 [3]. Group 2: Impact of New Regulations - The new regulations released by the China Securities Regulatory Commission (CSRC) in April 2023 have raised the net asset requirements for institutions applying for fund custody licenses, with commercial banks now needing a minimum of 500 million and securities companies 300 million [7][8]. - The requirement for institutions to have a regulatory rating of at least level 2 for banks or A for securities companies over the past three years has also contributed to the withdrawal of several applicants [7][8]. - The new rules emphasize the need for substantial operational capabilities and sustainable business models, further narrowing the pool of eligible applicants [7][8]. Group 3: Concentration of Fund Custody Market - The fund custody market is becoming increasingly concentrated among larger institutions, with a significant portion of the market share held by a few major banks and securities companies [10][11]. - The new regulations have created a challenging environment for smaller banks and securities firms, as they struggle to meet the heightened requirements and compete with larger entities [10][11]. - The CSRC has noted that a majority of fund custody licenses are held by a small number of institutions, indicating a need for stricter entry criteria to ensure that only capable firms can operate in this space [11].