China central banker says deposit insurance premiums to be low, big impact on banks unlikely
[BEIJING] China's recently launched deposit insurance scheme is unlikely to have a major impact on banks and premiums for the scheme will be much lower than in other countries, deputy central bank governor Pan Gongsheng said on Friday.
Mr Pan also told a media conference in Beijing that the scheme would not affect the ability of small banks to attract deposits.
Bankers and investors have been waiting for more detail on how premiums for the deposit insurance scheme would be handled. Some analysts believe the new policy could benefit smaller banks at the expense of larger ones, depending on how the government structures the premiums banks must pay into the deposit insurance programme.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japan frets over relentless yen slide as BOJ keeps ultra-low rates
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Five new charges for money laundering accused Zhang Ruijin before his plead guilty mention
Bank of Japan keeps rates steady, projects inflation staying near 2% in coming years
Weak yen pressures Bank of Japan’s interest rate decision
Basel Committee adds climate risks to banking supervision standards