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Old 09-27-2008, 07:10 PM
 
Location: Texas
208 posts, read 430,770 times
Reputation: 89

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Chinese banks told to halt lending to US banks


file:///C:/DOCUME~1/HP_ADM~1/LOCALS~1/Temp/logo_reuters_media_us.gif (broken link)

http://www.reuters.com/article/marketsNews/idUSPEK16693720080925
BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.
The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.
"The decree appears to be Beijing's first attempt to erect defences against the deepening U.S. financial meltdown after the mainland's major lenders reported billions of U.S. dollars in exposure to the credit crisis," the SCMP said.
A spokesman for the CBRC had no immediate comment. (Reporting by Alan
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Old 09-27-2008, 07:17 PM
 
Location: Charleston, SC
5,615 posts, read 12,789,652 times
Reputation: 2534
this came out a few days ago. It was followed up shortly with a story about joe that was false. The whole thing was on this board.
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Old 09-27-2008, 07:19 PM
 
Location: Charleston, SC
5,615 posts, read 12,789,652 times
Reputation: 2534
this came out a few days ago. It was followed up shortly with a story stating that it was false. The whole thing was on this board.
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