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China central bank issues draft guidelines on evaluation of systemically important banks

The guidelines will help regulators to identify lenders that are crucial to China's financial system, and thus reduce and fend off major financial risks, the People's Bank of China (PBOC) said on its official website.

November 26, 2019 / 03:36 PM IST

China's central bank issued a draft guidelines on November 26 on the evaluation of the country's systemically important banks.

The guidelines will help regulators to identify lenders that are crucial to China's financial system, and thus reduce and fend off major financial risks, the People's Bank of China (PBOC) said on its official website.

A list of systemically important banks will be jointly reviewed and announced by the PBOC and the China Banking and Insurance Regulatory Commission (CBIRC) once a year, according to the statement.

Yet the draft didn't elaborate on the detailed list of banks nor specific requirements they need to meet with.

 
Reuters
first published: Nov 26, 2019 03:25 pm

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