12月12日，金融监管总局正式发布《商业银行托管业务监督管理办法（试行）》，进一步明确了商业银行 托管业务的概念和开展业务的基本原则，规定商业银行需要建立健全托管业务治理架构和管理体系制度， 根据自身能力和服务水平提供适当的托管服务。相关规定将自2026年2月1日起施行，对于不符合要求的存 量业务，《办法》设置了三年过渡期。 原银保监会曾于2022年12月29日至2023年1月29日就《商业银行托管业务监督管理办法（征求意见稿）》公开 征求意见。与征求意见稿相比，《办法》有较大幅度修改。其中较为明显的改动就包括了新增对商业银行托管 非标准化产品的能力要求、新增禁止"为托管产品垫付资金、提供流动性支持或融资承诺"等。 强化底线要求，细化重点环节管理标准 托管是指商业银行作为独立第三方，为各类金融产品及专项资金形成的投资组合等提供财产保管及相关服务的 行为。金融监管总局有关司局负责人指出，近年来，商业银行为理财产品、资金信托、证券投资基金、证券公 司资管产品、保险资管产品、社保基金、养老金等提供托管服务，业务规模稳步扩大、服务种类不断增多、创 新活动日趋活跃，有效满足了财产保管、产品核算、资产估值等方面的多样化需 ...

《办法》明确，托管产品约定的投资范围包括非标准化债权类资产、未上市企业股权等非标准化资产 时，商业银行应当根据自身能力和服务水平，经充分评估后开展托管业务。评估的内容包括产品管理人 的资本实力、公司治理、合规管理、风险控制等，以及产品的交易结构、投资标的、退出方式、估值方 法策略等。 ◎记者 韩宋辉 金融监管总局12月12日发布《商业银行托管业务监督管理办法（试行）》（下称《办法》），在现有监 管制度基础上，进一步明确商业银行开展托管业务的基本规则，强化底线要求，细化重点环节的管理标 准。《办法》自2026年2月1日起施行。 托管是商业银行作为独立第三方，为各类金融产品及专项资金形成的投资组合等提供财产保管及相关服 务的行为。 为有效解决因职责边界不清导致过度承担风险的情况，《办法》列明了商业银行开展托管业务的禁止性 职责和禁止性行为。 金融监管总局有关司局负责人介绍，近年来，商业银行为理财产品、资金信托、证券投资基金、证券公 司资管产品、保险资管产品、社保基金、养老金等提供托管服务，业务规模稳步扩大、服务种类不断增 多、创新活动日趋活跃，有效满足了财产保管、产品核算、资产估值等方面的多样化需求。 主要包括： ...

Core Viewpoint - The National Financial Regulatory Administration has issued the "Supervision and Management Measures for Custody Business of Commercial Banks (Trial)" to enhance the supervision and management of custody business, promoting its standardized and healthy development [1][2]. Group 1: Regulatory Framework - The Measures consist of five chapters and 49 articles, covering general principles, custody responsibilities, management requirements, supervision and legal responsibilities, and supplementary provisions [2]. - The Measures define the concept of custody business and the basic principles for conducting such business, requiring commercial banks to establish a sound governance structure and management system for custody services [2]. Group 2: Implementation and Oversight - Commercial banks are mandated to provide appropriate custody services based on their capabilities and service levels, while the Measures also strengthen ongoing supervision, regulatory penalties, data reporting, and self-regulation [2]. - The National Financial Regulatory Administration will continue to urge commercial banks to enhance their management levels and risk prevention capabilities, promoting standardized, healthy, and high-quality development of custody business [3].

据介绍，《办法》明确了商业银行托管业务的概念和开展业务的基本原则，规定其应当符合的要求。商 业银行需要建立健全托管业务治理架构和管理体系制度，根据自身能力和服务水平提供适当的托管服 务。 为有效解决职责边界不清导致过度承担风险的情况，《办法》列明了商业银行开展托管业务的禁止性职 责和禁止性行为。主要包括： 禁止承担托管产品财产的信用风险、市场风险等；禁止为托管产品提供直接或间接、显性或隐性担保； 禁止承诺本金或保证收益；禁止为托管产品垫付资金、提供流动性支持(商业银行和产品间按照市场 化、法治化原则开展的固定收益有价证券合格担保品管理业务不在此列)或融资承诺；禁止参与投资者 适当性管理；禁止保证项目及交易信息真实性、资金来源的合法合规性；禁止参与管理人的投资决策； 禁止混同托管产品财产与其他财产等。 中国加强商业银行托管业务监管 列明八类禁区 国家金融监管总局称，《办法》的发布实施有利于进一步强化商业银行托管业务监管，明晰业务范围和 经营规范，提升精细化管理水平，更好发挥托管机制作用，为资产管理等领域发展提供更加有力有效的 支持。(完) 中新社北京12月12日电 (记者 王恩博)中国国家金融监管总局制定的《商 ...

Core Viewpoint - The National Financial Supervision Administration has released the "Supervision and Management Measures for Custody Business of Commercial Banks (Trial)" to enhance the supervision of custody services and promote their healthy development, prohibiting banks from guaranteeing principal or returns on custody products [1][2]. Group 1: Regulatory Framework - The new measures aim to clarify the basic rules for commercial banks conducting custody business, strengthen baseline requirements, and detail management standards for key areas [1]. - The measures emphasize the importance of maintaining legal integrity, improving internal governance, and enhancing service capabilities and transparency in custody services [1]. Group 2: Prohibited Activities - The measures explicitly list prohibited responsibilities and actions for commercial banks in custody business, including assuming credit or market risks for custody products and providing guarantees [2]. - Banks are also prohibited from making commitments regarding principal or returns, providing liquidity support, or financing commitments for custody products [2].

新规落地。 12月12日，金融监管总局正式发布《商业银行托管业务监督管理办法（试行）》（简称《办法》），进 一步明确商业银行托管业务的概念和开展业务的基本原则，规定商业银行需要建立健全托管业务治理架 构和管理体系制度，根据自身能力和服务水平提供适当的托管服务。相关规定将自2026年2月1日起施 行，对于不符合要求的存量业务，《办法》设置了3年过渡期。 原银保监会曾于2022年12月29日至2023年1月29日就《商业银行托管业务监督管理办法（征求意见 稿）》公开征求意见。与征求意见稿相比，《办法》有较大幅度修改。其中较为明显的改动就包括了新 增对商业银行托管非标准化产品的能力要求、新增禁止"为托管产品垫付资金、提供流动性支持或融资 承诺"等。 强化底线要求 细化重点环节管理标准 具体包括禁止承担托管产品财产的信用风险、市场风险等；禁止为托管产品提供直接或间接、显性或隐 性担保；禁止承诺本金或保证收益；禁止为托管产品垫付资金、提供流动性支持（商业银行和产品间按 照市场化、法治化原则开展的固定收益有价证券合格担保品管理业务不在此列）或融资承诺；禁止参与 投资者适当性管理；禁止保证项目及交易信息真实性、资金来源的合 ...

Core Viewpoint - The article discusses the implementation of the "Supervision and Administration Measures for Custody Business of Commercial Banks (Trial)" by the Financial Regulatory Bureau, which aims to clarify the concept and basic principles of custody business, enhance governance structures, and establish management systems for commercial banks [1][3]. Group 1: Regulatory Framework - The new regulations will take effect on February 1, 2026, with a three-year transition period for existing businesses that do not meet the requirements [1]. - The measures emphasize the need for commercial banks to provide appropriate custody services based on their capabilities and service levels, and to strengthen internal governance and risk management [3][8]. Group 2: Custody Business Definition and Scope - Custody refers to the act of commercial banks providing asset safekeeping and related services as an independent third party for various financial products and investment portfolios [3]. - The article highlights the growing scale and diversity of custody services offered by commercial banks, including for wealth management products, trust funds, and pension funds [3]. Group 3: Risk Management and Responsibilities - The measures introduce a negative list to clarify prohibited responsibilities and behaviors for commercial banks, including the prohibition of assuming credit and market risks for custody products [6]. - Commercial banks are required to conduct thorough assessments of their capabilities and the risks associated with non-standard assets before providing custody services [5][6]. Group 4: Internal Management and Compliance - The regulations outline internal management requirements for custody business, including establishing a robust risk management system and ensuring the independence of custody operations [8]. - Continuous supervision by the Financial Regulatory Bureau will focus on the compliance and prudence of custody business, which will be included in regulatory ratings [8].

Core Viewpoint - The National Financial Supervision Administration has announced a trial regulation for the supervision and management of custodial services by commercial banks, effective from February 1, 2026, aimed at ensuring the healthy development and compliance of custodial business practices. Group 1: General Provisions - The regulation aims to promote the standardized and healthy development of custodial services by commercial banks and strengthen supervision based on relevant laws [2] - Custodial services are defined as the act of commercial banks providing asset custody and related services as an independent third party within China [2] - The products that commercial banks can manage include various financial products and special funds, such as social security funds and enterprise annuities [2] Group 2: Custodial Responsibilities - Commercial banks are required to provide services such as account opening, asset custody, settlement, accounting, asset valuation, information disclosure, and investment supervision [4] - A custodial contract must be signed, detailing the rights and obligations of all parties involved, as well as the responsibilities and terms of the contract [4] - Banks must evaluate the capital strength, governance, compliance management, risk control, and market influence of product managers before providing custodial services [4][10] Group 3: Management Requirements - Commercial banks must establish a governance structure for custodial services, ensuring that the board and senior management are responsible for these operations [15] - A risk management system must be in place that is commensurate with the scale and complexity of the custodial business [15] - Banks are required to maintain effective separation between custodial services and other business operations to prevent conflicts of interest [30] Group 4: Supervision and Legal Responsibilities - The National Financial Supervision Administration will conduct ongoing supervision of custodial services, with the authority to enforce corrective measures for non-compliance [41] - Violations of the regulations may result in penalties, including the suspension of related business activities [42] - Banks must report significant matters related to custodial services to the National Financial Supervision Administration in a timely manner [45]

【导读】金融监管总局发布《商业银行托管业务监督管理办法（试行）》 事关商业银行托管业务，重磅来了！ 12月12日，国家金融监督管理总局发布《商业银行托管业务监督管理办法（试行）》（以下简称《办法》）。 据介绍，商业银行托管业务在强化市场监督制衡、规范产品投资运作、防范道德风险等方面发挥了积极作用，成为建设高标准金融市场体系的重要基础保 障。 近年来，随着商业银行托管业务规模的增长和托管资产的多元化，亟需弥补针对商业银行托管业务的基础性监管制度空白。金融监管总局在总结各方经验 的基础上，制定并发布实施《办法》，对推动商业银行进一步规范发展托管业务，加强风险管理，具有重要意义。 《办法》共五章49条，包括总则、托管职责、管理要求、监督管理和法律责任、附则等部分。《办法》明确了商业银行托管业务的概念和开展业务的基本 原则，规定了商业银行开展托管业务应当符合的要求。同时，《办法》也进一步强化了持续监管措施、监管处罚、数据报送和自律管理等相关制度安排。 《办法》指出，托管是商业银行作为独立第三方，为各类金融产品及专项资金形成的投资组合等提供财产保管及相关服务的行为。商业银行开展托管业务 应当坚持诚实信用、勤勉尽责、独立 ...

《办法》的发布实施有利于进一步强化商业银行托管业务监管，明晰商业银行托管业务范围和经营规 范，提升精细化管理水平，更好发挥托管机制作用，为资产管理等领域发展提供更加有力有效的支持。 下一步，金融监管总局将持续督促商业银行提高经营管理水平和风险防范能力，促进托管业务规范、健 康和高质量发展。 《办法》共五章49条，包括总则、托管职责、管理要求、监督管理和法律责任、附则等部分。《办法》 明确了商业银行托管业务的概念和开展业务的基本原则，规定了商业银行开展托管业务应当符合的要 求。商业银行需要建立健全托管业务治理架构和管理体系制度，根据自身能力和服务水平提供适当的托 管服务。同时，《办法》也进一步强化了持续监管措施、监管处罚、数据报送和自律管理等相关制度安 排。 央视网消息：据国家金融监督管理总局网站消息，为进一步加强商业银行托管业务监督管理，促进商业 银行托管业务规范健康发展，金融监管总局制定了《商业银行托管业务监督管理办法（试行）》（以下 简称《办法》），现正式发布。 商业银行托管业务在强化市场监督制衡、规范产品投资运作、防范道德风险等方面发挥了积极作用，成 为建设高标准金融市场体系的重要基础保障。近年来随着商 ...