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China banks told to halt lending
to US banks-SCMP
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.
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.
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.
A spokesman for the CBRC had no immediate comment. (Reporting by Alan Wheatley and Langi Chiang; editing by Ken Wills)
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