US, Chinese regulators sign cross-border resolution deal

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The United States and China will cooperate on winding down cross-border banks and crisis management, the Federal Deposit Insurance Corporation (FDIC) said on Wednesday.

As part of the Strategic and Economic Dialogue between the two countries, the FDIC and the China Banking Regulatory Commission (CBRC) will formulate joint contingency plans to deal with future bank failures, improve the exchange of information and work on understanding the national insolvency laws and regulatory processes in each

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