China sets new rules for policy banks to curb risks - RTRS

The China Banking Regulatory Commission (CBRC) said in statements late-Wednesday, it framed new rules for the country’s three policy banks to help rein in risks amid a broader tightening of controls over the financial sector, Reuters reported on Thursday.

Key Details:

“The new rules require the three banks to strengthen governance systems and to establish capital restraint mechanisms based on capital adequacy ratios.

The three banks, which include the China Development Bank, the Export-Import Bank of China and the Agricultural Development Bank of China, had not been subject to special regulatory policies since their inception in the 1990s.”