Bank of China was fined over 50mn yuan and ordered to correct deficiencies, strengthen compliance awareness and improve risk management.
December 7, 2020Seven banks have temporarily stopped opening new accounts for precious metals trading amid concerns that heightened volatility could lead to losses and complaints.
December 1, 2020China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.
July 30, 2020Singapore’s High Court has reportedly appointed KPMG executives as interim judicial managers to oversee a transition to new management at ZenRock Commodities, an oil trading firm.
May 10, 2020The move followed a determination by the Financial Stability and Development Committee that the bank was at fault for not following investment suitability principles.
May 8, 2020The CBIRC has asked Bank of China to improve its risk management and to negotiate with investors in good faith over an estimated 10bn yuan in losses in its crude oil product.
May 5, 2020The verbal directions came nearly a week after an estimated $1.4bn in losses were recorded in a crude oil futures trading product sold by Bank of China.
April 29, 2020Small- and mid-sized banks are likely to struggle more as they have less capital in reserve and fewer state borrowers they can call on.
March 31, 2020The regulator has fixed the minimum net capital for commercial lenders' wealth management subsidiaries at 500 million yuan, and at least 40 percent of the net assets.
December 6, 2019Moody's says the regulation may widen credit divergences between large and small banks, as the latter are less likely to receive less government support.
November 28, 2019