Chinese watchdog says risks in smaller banks generally under control

This post was originally published on this site

Authorities will draw up risk-disposal strategies for those in trouble and push to replenish their capital, Xiao Yuanqi told a briefing, adding that about 5.3 trillion yuan of non-performing assets at smaller banks have been resolved in the past five years.

Three banks in China’s central Henan province have frozen at least $178 million of deposits, leaving businesses unable to pay workers and individuals locked out of savings, depositors told Reuters.