China stepping up banking oversight to reduce financial risks
Beijing
CHINA will step up oversight in the banking sector this year to reduce financial risks, the country's banking regulator said, stressing that long-term efforts would be needed to control banking sector chaos.
The China Banking Regulatory Commission (CBRC) said in a statement on Saturday that its priorities included increasing supervision over shadow banking and Interbank activities. "Banking shareholder management, corporate governance and risk control mechanisms are still relatively weak, and root causes creating market chaos have not fundamentally changed," the CBRC said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
Australia lending rules make banks go ‘too hard’ on due diligence: Westpac
Australia banks shower investors with A$5 billion in buybacks
Bank of Japan’s Ueda signals chance of policy action if yen moves affect inflation
Fed’s Kashkari says rates likely on hold for ‘extended period’
FTX has billions more than needed to pay bankruptcy victims