Chinese authorities toughen rules on systemic firms
PBoC expands definition of systemically important firms and gains new powers
Chinese authorities have adopted a broader definition of firms that are ‘too big to fail’, as they seek to curb risks in the financial system.
Regulators including the People’s Bank of China said on November 27 that institutions including banks, securities firms and insurers may now be designated as systemically important, as well as any other firm deemed a risk to financial stability.
The PBoC, the China Banking Regulatory Commission and the China Securities Regulatory Commission have been
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