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Stock impact report

China tightens regulations on consumer finance companies [CNBC]

Moody's Corporation (MCO) 
Last moody's corporation earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.moodys.com/home/default.aspx
Company Research Source: CNBC
The measures announced by the National Financial Regulatory Administration on Tuesday will come into effect April 18. It comes at a time when Beijing is tightening its grip on the financial sector. The new rules stipulate that firms eligible to provide consumer loans — excluding those for home and car purchases — need to have a minimum registered capital of 1 billion yuan ($139 million). That's triple the minimum amount required previously under 2014 rules, according to Reuters. Investors of consumer finance firms are divided into main investors and general investors, according to the statement. A main investor needs to hold a stake of at least 50%. Financial institutions that are main investors must have total assets of a minimum of 500 billion yuan ($69.45 billion), or the equivalent in freely convertible currency, by the end of the most recent fiscal year, the regulator said. Major investors that are non-financial institutions must have an operating incomes of at least 6 Show less Read more
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