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The main reasons why China People's Bank failed the audit.
The People's Bank of China generally refers to the People's Bank of China, which is the central bank of People's Republic of China (PRC). According to the Law of the People's Bank of China of the People's Republic of China, the People's Bank of China, under the leadership of the State Council, independently implements monetary policies, performs its duties and conducts business without interference from local governments, social organizations and individuals.
The main functions of the People's Bank of China include assuming the responsibility of lender of last resort; Responsible for formulating and implementing RMB exchange rate policy; Issue RMB and manage the circulation of RMB; Manager's vault; Manage the credit industry and promote the construction of social credit system; Manage the State Administration of Foreign Exchange, etc.
The institutional setup of the People's Bank of China includes the Monetary Policy Department, the Macro-Prudential Management Bureau, the Legal Department, the General Office (Party Committee Office), the Financial Stability Board, the Investigation and Statistics Department, the Ministry of Science and Technology, the Monetary and Gold Bureau (Security Bureau), the Treasury Bureau, the Credit Bureau and the Financial Consumer Rights Protection Bureau.
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