Banks, Regulators Squeeze in a Tight New Year

The China Banking Regulatory Commission (CBRC) called for limiting combined new bank loans to between 1 trillion and 1.2 trillion yuan for the month of January, taking a tighter posture than the People's Bank of China, which recommended about an 900 billion yuan cap for the month.

Behind this apparent policy clash, however, China's monetary and bank authorities overall say they're working together for tighter credit controls in 2011.