China banks get more time for risk assessments

Shanghai

CHINA'S banking regulator has extended by two months a June deadline for banks to submit risk assessments over concerns it was putting strain on the lenders, two sources with direct knowledge of the matter said.

Under the leadership of chairman Guo Shuqing, the China Banking Regulatory Commission (CBRC) started the year promising a "windstorm" to clean up the banking sector, which had been seen as failing to control risks as credit swelled.