March 6, 2018 / 7:40 AM / 4 months ago

China banking regulator to cut provision coverage ratio for commercial banks: sources

SHANGHAI (Reuters) - China’s banking regulator plans to cut the provision coverage ratio for commercial banks to 120-150 percent from 150 percent, two sources with direct knowledge of the situtation said on Tuesday.

The China Banking Regulatory Commission (CBRC) said the effective date will be decided by local CBRC bureaus, one source said.

Reporting by Li Zheng and Engen Tham; Editing by Kim Coghill

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