China's, banking and insurance regulator establish countercyclical capital buffer mechanism

30 Sep 2020 / 21:11 H.

    HONG KONG, Sept 30 (Reuters) - China's central bank and the country's banking and insurance regulator said they would establish a countercyclical capital buffer mechanism on Wednesday.

    They will regularly assess and adjust countercyclical capital buffer requirements to prevent systemic financial risks, according to a statement posted on the People's Bank of China (PBOC) website.

    The mechanism will be effective from Wednesday, the statement said. (Reporting by Kevin Yao and Twinnie Sui; Editing by Andrew Heavens)

    email blast