China mandates deposit insurance labels
PBoC goes further in implementing deposit insurance policies to mitigate risk
Commercial banks and deposit-taking institutions in China will begin to use deposit insurance labels starting from November 28, the Chinese central bank said on November 6.
Financial institutions in 11 provinces in China would start to test the use of deposit insurance signs and logos over the weekend, the People’s Bank of China (PBoC) added.
This is a break from past practice, where it was widely assumed the authorities would step in to save collapsing financial firms. People are now being
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