News Snapshot:
China bans fixed-term deposits for banks via third-party Internet platforms 1 2021-01-16 01:01:47 Xinhua Commercial banks in China have been barred from conducting fixed-term deposit and term-current optional deposit business on third-party Internet platforms, according to a regulation published Friday. The regulation, jointly issued by the China Banking and Insurance Regulatory Commission and the People's Bank of China, requires commercial banks to carry out deposit businesses through Internet platforms in accordance with the law and regulations, and must not use the Internet to violate or circumvent regulatory requirements. Commercial banks should strengthen the assessment and monitoring of business risks, enhance...
