Caixin
Feb 06, 2018 06:32 PM
FINANCE

China Likely to Take Aim at Shadow Bankers by March: Sources

A view of the People's Bank of China headquarters in Beijing. The draft rules released on Nov. 17, which may soon come into force, aim to set industry-wide requirements for leverage ratios, risk reserve funds and investment restrictions, in an effort to get banks’ off-balance sheet assets back under a regulatory framework. Photo: VCG
A view of the People's Bank of China headquarters in Beijing. The draft rules released on Nov. 17, which may soon come into force, aim to set industry-wide requirements for leverage ratios, risk reserve funds and investment restrictions, in an effort to get banks’ off-balance sheet assets back under a regulatory framework. Photo: VCG

Beijing is likely to roll out unified regulations to tame the country’s “shadow banking” sector before its annual legislative sessions, which are slated to open in early March, people familiar with the matter told Caixin.

The proposed regulations for the $15 trillion asset-management industry were published in November on the People’s Bank of China’s website. The final version is likely to be subject to amendments that will have to be approved by the Financial Stability and Development Committee of the State Council, China’s cabinet, knowledgeable sources close to the regulator said.

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