Money

Banking regulator to release data on banking sector

(Xinhua)
Updated: 2011-01-28 10:43

BEIJING -- China Banking Regulatory Commission (CBRC), the banking regulator, said Thursday it would regularly publish statistics on the banking sector this year to provide the public better service.

Related readings:  China's banking assets grow 19.7% in 2010  Banking industry introduces director elimination mechanism  Banking goes underground on tightening

The CBSC said it would publish monthly statistics on Chinese financial institutions, including assets and liabilities, quarterly data such as the balance of bad loans and non-performing loan ratios, and release statistics such as net profits of the institutions every half year.

Financial institutions in the banking sector refers to commercial banks, urban and rural credit cooperatives and policy banks.

The regulator also said that it has amended the existing rules on bank derivatives in a bid to strengthen lenders' relevant risk hedging and capital control.

The amendment is aimed to encourage more commercial banks to employ derivatives to offset asset default risks and enhance capital control, according to the CBRC.