PBOC Said to Be Talking to Major Banks about Deposit Insurance
(Beijing) – The central bank has been consulting executives of major banks about creating a deposit insurance mechanism and may announce a draft plan early next year, a source close to the situation said.
Advocates have called for such a system for years, saying it is the cornerstone of further financial reform. Without it, they argue, the government will be held as hostage to banks who may act irresponsibly because they know the government will not let them fail and hurt tens of millions of depositors.
- Zuckerberg Impresses Tsinghua Students with His Chinese, Even Talks Tech
- Rise and Fall of a Coal Boomtown in Shanxi Province
- Despite Ban, County Holds Convict Parade Days before Rule of Law Plenum
- Paris Expatriate
- Loft Horizon
- Fourth Plenum
- Which Way for Smartphone Swipe and Pay?
- Do you have faith in the central government's plans for cutting air pollution?
- Media Executive Who Ignored Mobile Internet Takes His Leave
- Chinese Firms 'Want to Build Bullet Trains for California Project'
- Sign up to receive our free daily newsletter
- The Yellow Pearls of China: Women with a PhD
- Graphics: Ghost Towns
- Researchers Cast Doubt on State Council Goals to Cut Air Pollution
- China Nears Deal with Mexico to Export Bullet Trains for First Time
- Eight Killed and 18 Injured in Riot in Kunming Suburb, Local Gov't Says
- Graphics: The Fourth Plenum
- Huge Vale Ship Arrived in Qingdao with 300,000 Tons of Iron Ore
- The Golden Lands: Cambodia, Indonesia, Laos, Myanmar, Thailand & Vietnam
- Revision of Securities Law Is Chance to Liberalize Market
- Silver Screen Industry Strikes Investor Gold