China's deposit insurance system, which has not yet been established but has been discussed for years, will be based on the model the central bank used when solving the bankruptcy of a Shenzhen-based securities company in 2004, Shanghai Securities News reported on Thursday, quoting An Qilei, deputy head of the central bank's financial stability bureau.
The model means the official bailout for troubled lenders and their deposits will be based on the principle of "no interest rates, discounted principal, and limited purchases," An said.
China Daily - Agencies
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
