Financial Common Sense

1. What is a commercial bank?  

“Commercial bank” is different from “central bank” and “policy bank”. It is a comprehensive and multi-functional financial enterprise with financial assets and liabilities business as its main business object. It is a financial institution that can provide deposit and loan business. 

As an enterprise, a commercial bank takes safety, liquidity, and efficiency as its operating principles, and implements self-management, risk-taking, self-responsibility for profits and losses, and self-discipline. Commercial banks mainly obtain profits through deposit and loan spreads, intermediary business fees, and self-support fund business. 

2. What are the regulations and constraints on the operation of commercial banks?

Commercial banks in China are regulated by financial regulatory agencies such as the China Banking Regulatory Commission. According to the relevant laws and regulations of the state, commercial banks must meet the requirements of capital adequacy ratio, loan-to-deposit ratio, non-performing asset ratio, and other indicators to meet the requirements of controlling operational risks and protecting the interests of depositors. 

3. What services can commercial banks provide to individuals? 

1. Savings business: including RMB and foreign currency savings business. 2. Remittance business: including peer-to-peer, inter-bank, intra-city, and different places including cross-border remittance 

3. Loan business: including personal housing mortgage loans, auto consumption loans, education student loans, personal consumption loans, personal business loans, etc. 

4. Agency business: including agency fund sales, agency insurance sales, third-party custody business, personal gold 1414.50, 10.30, 0.73% trading business, personal foreign exchange trading business, agency sales of treasury bonds, etc. 

5. Wealth management business: providing wealth management products and related services. 

6. Bank card business: provide debit card and credit card products and services, including deposit, withdrawal, transfer, consumption, etc. through bank cards.

7. Acting public bill payment business: Acting to collect telephone bills, water bills, electricity bills, gas bills, property fees, etc. 

8. Going abroad financial business: Provide visa data transfer business, issue foreign currency carrying certificate, foreign currency overseas remittance, foreign currency exchange, traveler’s check, study abroad guarantee letter, study abroad loan, and other services. 

16 thoughts on “Financial Common Sense

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