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China Ready To Start Deposit Insurance System - Central Bank Report

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http://uk.reuters.com/article/2013/06/05/uk-china-economy-idUKBRE9540G320130605

Conditions are ripe for China to launch a long-awaited deposit insurance system after a consensus was reached within the government, according to the central bank's 2013 financial stability report, sources with knowledge of the report's contents said on Wednesday.

The report paves the way for liberalising the interest rate regime and marks the latest step forward towards market-based reforms to eventually free up China's financial sector.

"We are ready in various aspects to set up a deposit insurance system. After numerous research and debates, all sides have reached consensus and we will kick off the scheme at a proper time," the report said.

In late May, the People's Bank of China put on its website a press release saying it had completed the annual report and would continue with financial reforms. The release made no mention of deposit insurance.

China starting to fear it's own banking crisis? All nations have had them and it would appear unlikely that China will escape it's own bank runs. A sign that that Chinese politicians fear one is imminent?

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China starting to fear it's own banking crisis? All nations have had them and it would appear unlikely that China will escape it's own bank runs. A sign that that Chinese politicians fear one is imminent?

It'll put a rocket under the system for another 10 years then they'll get zirp like everyone else.

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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