COVID-19 TOTAL DAILY
CASES 326,216 736
DEATHS 6,715 13
Business

China's central bank issues draft revisions to commercial bank law

  • The revisions specify the steps commercial banks need to take when it comes to restructuring, takeovers and bankruptcies, said the People's Bank of China.
16 Oct 2020

BEIJING: China's central bank issued draft legal revisions on Friday including improving the mechanism of risk disposal and market exit for commercial banks, it said.

The revisions specify the steps commercial banks need to take when it comes to restructuring, takeovers and bankruptcies, said the People's Bank of China, adding that deposit insurance funds can set up bridge banks to take over or hold assets and liabilities of other commercial banks that pose severe risks.