Tags: china | loans | us

China Told to Halt Lending to U.S. Banks

Thursday, 25 Sep 2008 01:52 PM

BEIJING -- 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.

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Reactions to Mitt Romney's Exit Mostly Gracious

Friday, 30 Jan 2015 13:46 PM

Mitt Romney's decision to opt out of running for the White House in 2016 is generating gracious reaction from other pote . . .

Hezbollah Leader 'Not Afraid' of War With Israel

Friday, 30 Jan 2015 10:07 AM

The leader of Lebanon's Hezbollah said on Friday his group did not want war with Israel but was ready for one, and reser . . .

Battle Lines Being Drawn on Obama's $4 Trillion Budget

Friday, 30 Jan 2015 13:30 PM

On Monday, when President Obama officially presents the proposed budget he outlined in a speech to House Democrats gathe . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved