Amendments to the Directions Concerning the Establishment of Foreign Branches by Domestic Banks
In order to encourage outstanding domestic banks to expand their overseas businesses and to realize differentiated supervisory management, the FSC introduced the amendments to Article 3, 5 and 8-1 of the aforementioned Directions on February 12, 2019. The FSC will accelerate the review of the applications submitted by domestic banks which have excellent global management capabilities and plan to establish branches in a country or region where domestic banks have no operations yet. The amendments also enhance the flexibilities of on-job trainings for staffs of overseas branches.
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