By Brett W. King, partner, Paul, Hastings, Janofsky & Walker, Hong Kong office and Karen Tang, partner, Paul, Hastings, Janofsky & Walker, Shanghai office
On August 11 2007, the China Banking Regulatory Commission (CBRC) issued a Notice of the China Banking Regulatory Commission on Printing and Distributing the Guidelines for Syndicated Loan Business (the Guidelines), which regulate syndicated lending practices in the People's Republic of China (the PRC). The Guidelines update and supersede the Syndicated Loans Provisional Measures (the 1997 Regulations) issued by the People's Bank of China in 1997.
Effective from the date of issue, the Guidelines are formulated by the CBRC in accordance with the Bank Supervision and Administration Law of the PRC, the PRC Commercial Banking Law, PRC Contract Law, PRC Security Law as well as other laws and regulations.
WHO IS AFFECTED BY THE NEW GUIDELINES?
The Guidelines apply to all domestic and foreign banks and non-bank financial...
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