China’s big four state banks to lower deposit rate ceilingson May 10, 2023 at 7:21 pm

Reuters exclusively reported that China has told its “big four” state-owned banks to reduce the ceiling on interest rates they pay on some deposits. The interest rate self-disciplinary mechanism, a top regulatory body overseen by the People’s Bank of China, urged lenders to lower ceilings on some personal and corporate deposits by 30 basis points (bps), effective on May 15.

The post China’s big four state banks to lower deposit rate ceilings appeared first on Reuters News Agency.

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