Exclusive: PBoC sets ratio requirement on banks for X-border flows
China’s central bank just found a smart way to discourage capital outflows – making each commercial bank accountable.
China’s central bank is now allowing individual banks in the country to make their own decisions on how they handle capital outflows, within specified limits, according to two people with knowledge of the situation. The move puts the onus on banks, rather than regulators, to stem capital flight.
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