Apr 01, 2022 04:10 AM

China’s Deposit Insurance Fund Had $15.14 Billion Balance at Year-End

What’s new: China’s seven-year-old deposit insurance fund had a balance of 96 billion yuan ($15.14 billion) as of the end of 2021 and repaid 23.2 billion yuan of finance stability loans, the central bank disclosed Wednesday.

More than 4,000 lenders have bought deposit insurance from the fund and paid 46.7 billion yuan of premiums last year, according to a statement released by the People’s Bank of China. Lenders pay annual premiums at an average rate of 5 yuan for each 10,000 yuan of deposits.

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