Is the Financial Supervision Bureau the same as the Banking Supervision Bureau?

The Financial Supervision Bureau and the Banking Insurance Regulatory Bureau are both financial supervision institutions in China, but their responsibilities and jurisdiction are slightly different.

The Financial Supervision Bureau is the highest financial supervision institution in China, which is directly subordinate to the State Council. Its main duties are to implement macro-prudential management, supervise financial markets, maintain financial stability, protect the rights and interests of financial consumers and guard against financial risks. The main tasks of the Financial Supervision Administration include: promulgating financial supervision policies, rules and standards; Supervise and manage financial institutions such as banks, securities, futures and insurance; Carry out financial market supervision and risk management; Dealing with bankruptcy and risk events of financial institutions.

The Banking Insurance Regulatory Bureau is the abbreviation of China Banking Insurance Regulatory Commission, and it is the regulatory body of China's banking and insurance industry. Its main responsibility is to supervise and manage banks and insurance institutions, protect the rights and interests of financial consumers and guard against financial risks. The main work of the Banking Insurance Regulatory Bureau includes: promulgating policies, rules and standards for banking and insurance supervision; To supervise and manage banks, insurance and other financial institutions; Supervision and risk management of the banking and insurance markets; Handling bankruptcies and risk events of banks and insurance institutions.

Therefore, the Financial Supervision Bureau and the Banking Insurance Regulatory Bureau are both financial supervision institutions in China, but the responsibilities of the Financial Supervision Bureau are broader, while the Banking Insurance Regulatory Bureau pays more attention to the supervision and management of banks and insurance institutions.