Begin forwarded message:
From: [EMAIL PROTECTED]
Date: September 25, 2008 1:45:18 PM PDT
To: [EMAIL PROTECTED]
Cc: [EMAIL PROTECTED], [EMAIL PROTECTED], [EMAIL PROTECTED], [EMAIL PROTECTED]
Subject: Banks in China ordered to halt lending to US banks during
"meltdown"
China banks told to halt lending to US banks
Wed Sep 24, 2008 9:52pm EDT
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
Wheatley and Langi Chiang; editing by Ken Wills)
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