PBOC Said to Ask Lenders to Control Wealth Management Funds
Paramilitary policemen patrol in front of the People's Bank of China in Beijing. China’s central bank will impose required reserve ratios on yuan deposits of offshore participant banks in the mainland in a bid to stabilize the currency.
Photographer: Greg Baker/AFP via Getty ImagesThis article is for subscribers only.
China’s central bank has told lenders it will require greater control over the amount of wealth management product funds they give to brokerages and other financial institutions to manage, according to people familiar with the matter.