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.
- Brexit: The View from China
- Central Bank Governor on Multiple Objectives and Challenges
- Transcript: PBOC Governor on Multi-Objective Monetary Policy
- Deadly Twister
- Intensifying Battle over Who Controls Vanke
- In Sino-African Resource Trade, China Needs a Mindful Approach
- The Illogic of Consumption as a Growth Driver
- Support Plan for Idled Industrial Workers
- Shanghai Taxi Service Clashes with Car-Hailers
- Digging Up Death, Extortion in China's Mines
- Sign up to receive our free daily newsletter
- Views: What Do Chinese Women Think of Hillary Clinton?
- China Seeks Assurances Against Possible Debt Default by Venezuela
- Mother's Fight to Exonerate Executed Son Highlights Gaping Holes in Justice System
- Lackluster Sales Signal Xiaomi's Growing Pains
- China in Major Expansion of Yuan Conversion Pilot Program
- Lessons from South Korea for China's Economic Rebalancing Act
- Chinese High Speed Rail Builder Doubts U.S. Partner's Sincerity
- China Life Insurance Joins Race to Take Chinese Healthcare Provider off NASDAQ
- Investor Pain over Mobile Medical App Strain
- Anti-Corruption Drive, Frugality Campaign Sap Banks of VPs