China's top banking executives have been put on notice that that they could lose their jobs if they fail to keep risks under control, Bloomberg reports. The China Banking Regulatory Commission told an internal meeting last month that banks would be forced to restructure, inject new capital or change their senior management if key risk indicators fell outside "reasonable ranges". The European Commission is proposing a raft of measures, from closer monitoring of bitcoin and cash transactions to the creation of national payment account registers, as part of an action plan to strengthen the fight against terrorist financing, Finextra reports. The news service added that the EC wanted to widen the range of accessible information, possibly through the creation of centralised national bank and payment account registers or central data retrieval systems. Virtual currencies and pre-paid cards are also to be targeted under the proposed new regime. If bitcoin exchanges are required to run customer due diligence checking as proposed, it would end the anonymity associated with transfers. Total securitisation issuance in China approached RMB590 billion in 2015, making it the single largest market in the Asia-Pacific region, according to Standard & Poor's Ratings Service. This trend is set to continue in 2016, although improvements in information disclosure and structure transparency are needed. "We expect regulators to support more innovation in securitisation in 2016 to address China's economic and financial issues, including a rising number of nonperforming loans and the need to finance housing," said S&P credit analyst Vera Chaplin. "This is in addition to the continued growth in the securitisation of traditional assets in corporate loans, auto loans, mortgages, and consumer borrowings."