China introduces a mandatory deposit reserve rate for foreign financial institutions
Date: 14:34, 19-01-2016.
Almaty. January 19. Silkroadnews - China introduces a mandatory deposit reserve rate for foreign financial institutions, “People’s Daily’ reports.
“China’s central bank, the People's Bank of China (PBOC), has announced that it will begin imposing the reserve requirement ratio (RRR) on deposits placed by overseas financial institutions at their local branches from January 25”, - says the publication.
The overseas financial institutions do not include foreign central banks, official reserve and management institutions, international financial organizations, or sovereign wealth fund.
