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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

REUTERS [1]
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:

[1] REUTERS: http://www.reuters.com/article/marketsNews/idUSPEK16693720080925

[2] 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

[3] China tells banks to halt lending: http://www.prisonplanet.com/china-tells-banks-to-halt-lending.html

[4] Banks Still Not Lending: http://www.prisonplanet.com/banks-still-not-lending.html

[5] Central banks all but stop lending gold: http://www.prisonplanet.com/central-banks-all-but-stop-lending-gold.html

[6] 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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