China’s banking regulator tells banks to scale back on high-yield structured deposits

 

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China’s banking regulator has asked some banks to scale back on their structured deposits, clamping down on increasing regulatory arbitrage and guiding more funds to the real economy.

The China Banking and Insurance Regulatory Commission (CBIRC) have given verbal guidance to some large and mid-sized lenders, asking them to cut the amount of structured deposits to the same level as the beginning of 2020 by September 30, reported several Chinese local news outlets and confirmed by Yuan Talks with industry insiders.

The banks were required to slash the amount further to two-thirds . . .

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