SORRY THE VIDEO IS DOWN IT COMING SOON
China Halts Bank Cash Transfers So Much… by Tats-Revolution
Last week, China’s central bank provided emerging funding support to commercial banks in response to a surge in cash rates before the holiday, following similar moves in December. (Read more: Are China bank stocks cheap or just crummy?) The People’s Bank of China also expressed concern about some banks’ over-reliance on short-term funding markets and urged banks to improve how they manage their liquidity. “We’ll never understand how difficult it is to control China, particularly its financial system,” Dugan said. “Even a well-intentioned government, as we believe they are, is finding it very, very difficult to control all of the things that are happening within the financial system and these stress points (and) bringing them under control and keeping the markets’ confidence.”