Reg roundup: China drafts rules on bank failures; IASB tweaks standards on asset depreciation
China's banking regulators are working on a plan to manage domestic bank failures; The International Accounting Standards Board has revised IAS 16 and IAS 38 calculations; and Indian banks will be allowed to sell structured derivatives offshore.
China’s failing banks will no longer be propped up
China is drafting rules to manage the risks of bank failures, as the nation’s lenders face rising loan defaults and increased competition. The People’s Bank of China and the China’s Banking Regulatory Commission are working on a plan to ensure the safety of deposits and orderly repayments of banks’ debts during a crisis. In the draft, financial institutions deemed to have failed will be allowed to cease operations rather than be propped up, according to Bloomberg News on May 12, citing two people who declined to be named.
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