China suspends at least 3 foreign banks from certain forex businesses: sources

Shanghai

CHINA'S central bank has suspended at least three foreign banks from conducting some foreign exchange business until the end of March, three sources who had seen the suspension notices told Reuters on Wednesday.

Included among the suspended services are liquidation of spot positions for clients and some other services related to cross-border, onshore and offshore businesses, the sources said. The sources, speaking on condition that the banks were not named, said that the notices sent to the affected foreign banks by the People's Bank of China (PBOC) gave no reason for the suspension.