SHANGHAI Feb 21 China's banking regulator is letting banks in Guangdong province count negotiable certificates of deposit maturing in more than 90 days as part of their minimum regulatory capital requirement, three people with direct knowledge of the move said.
Inclusion of the certificates in regulatory capital in the southern province, allowed by the Guangdong branch of the China Banking Regulatory Commission (CBRC), appears intended to ease pressure on banks.
The Guangdong CBRC was not immediately available for comment.
The three people said the CBRC has sent Guangdong banks a circular saying the ratio of their core liabilities to total liabilities shouldn't be less than 60 percent.
The move "is tantamount to improving the bank’s core liabilities and easing bank’s liabilities," said one of the people knowledgeable about the circular. (Reporting by Shanghai newsroom; Writing by Engen Tham and Winni Zhou; Editing by Richard Borsuk)
Insurance industry warned of fire risk month before tower block blaze - FT
June 25 The insurance industry warned the British government of the dangers of flammable cladding on buildings a month before the Grenfell Tower fire killed at least 79 people, the Financial Times reported.