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China banks told to halt lending to US banks-SCMP
Posted By admin On September 25, 2008 @ 9:16 am In 1,Featured Stories | Comments Disabled
Thursday, September 25, 2008
BEIJING, Sept 25 (Reuters) – Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.
“The decree appears to be Beijing’s first attempt to erect defences against the deepening U.S. financial meltdown after the mainland’s major lenders reported billions of U.S. dollars in exposure to the credit crisis,” the SCMP said.
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URLs in this post:
 REUTERS: http://www.reuters.com/article/marketsNews/idUSPEK16693720080925
 Two Of China’s Biggest Banks Have Stopped Lending At Some Of Their Branches: http://www.prisonplanet.com/two-of-chinas-biggest-banks-have-stopped-lending-at-some-of-their-branches.html
 China tells banks to halt lending: http://www.prisonplanet.com/china-tells-banks-to-halt-lending.html
 Banks Still Not Lending: http://www.prisonplanet.com/banks-still-not-lending.html
 Central banks all but stop lending gold: http://www.prisonplanet.com/central-banks-all-but-stop-lending-gold.html
 Behind The Scenes, European Banks Freak Out About Lending To Each Other: http://www.prisonplanet.com/behind-the-scenes-european-banks-freak-out-about-lending-to-each-other.html
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