“The central bank released the China Financial Stability Report 2013 on 7 June, saying that a consensus has been reached on the establishment of a deposit insurance system and that the system may be launched and implemented at a suitable time. Sources say China will set up an insurance fund and the maximum coverage for each bank account will initially be set at Rmb500,000. With the absence of a deposit insurance system, the state has actually taken on the responsibility to guarantee deposits in banks, which can easily lead to slack risk management and excessive speculation of commercial banks in seeking profits, the central bank report said.”
Related posts:
David Stockman: This Is a Giant Ponzi Scheme, It's Just Debt on Top of More Debt
Bitcoin Now Buys You Citizenship in Pacific Nation of Vanuatu
Nation's largest ocean desalination plant goes up near San Diego
Fourth Amendment is going, going …
Pa. Man Barters With Bacon for Cross-Country Trip
NYPD faces class-action lawsuit over controversial stop-and-frisk policy
The Ghosts of Baha Mar: How a $3.5 Billion Paradise Went Bust
Turkey cashes in on the Iran talks
Powerless and clueless: 684 million Indians without power
Reagan’s Personal Spying Machine
Shedding New Light On Basement Marijuana Technology
Hunt for Dollars Sends Argentines Into the 'Cave'
Putin grants French actor Gerard Depardieu Russian citizenship
IBM Cutting Jobs In U.S. And Globally
Google’s Brazil president faces an arrest warrant