China revises internal bank rules

CHINA - China's central bank introduced revised rules on the internal controls of commercial banks yesterday, in a further effort to reduce the possibility of financial risks.

The rules, published by the People's Bank of China (PBOC) on its website, detail internal control requirements on a broad array of bank activities, including lending, deposits, asset management, intermediary businesses, accounting and the computer system.

In the rules, the principles of ubiquity, prudence, effectiveness

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