Do rural commercial banks belong to formal banks?

Rural commercial bank is a regular bank approved by CBRC and a reliable bank. Rural commercial banks are joint-stock local financial institutions composed of farmers, rural industrial and commercial households, enterprise legal persons and other economic organizations.

2065438+On May 2, 2009, the People's Bank of China published the Notice of the People's Bank of China on Reducing the RMB Deposit Reserve Ratio of Rural Commercial Banks Serving Counties, which further refined the policy framework of implementing a lower deposit reserve ratio for small and medium-sized banks announced by the Central Bank on May 6.

Extended data:

Article 11 of the Law of People's Republic of China (PRC) City on Commercial Banks, the establishment of a commercial bank must be examined and approved by the the State Council Banking Regulatory Authority. Without the approval of the the State Council Banking Regulatory Authority, no unit or individual may engage in commercial banking business such as absorbing public deposits, and no unit may use the word "bank" in its name.

Article 12 To establish a commercial bank, the following conditions shall be met:

(1) Having articles of association that conform to this Law and the Company Law of People's Republic of China (PRC);

(2) It has a registered capital meeting the minimum amount stipulated in this Law;

(3) Having directors and senior managers with professional knowledge and business experience;

(4) Having a sound organizational structure and management system;

(5) Having a business place, safety precautions and other business-related facilities that meet the requirements.

The establishment of commercial banks should also meet other prudential conditions.

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