China sets new rules for policy banks to curb risks
The banking regulator said the new measures were necessary to 'strengthen supervision' over the policy banks and prevent the emergence of 'systemic financial risks'.
By: Reuters | Shanghai | Published:November 16, 2017 4:13 pm
China’s banking regulator has set new rules for the country’s three policy banks to help rein in risks amid a broader tightening of controls over the financial sector.
The new rules require the three banks to strengthen governance systems and to establish capital restraint mechanisms based on capital adequacy ratios, the China Banking Regulatory Commission (CBRC) said in statements late on Wednesday.
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