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FDIC to Help China’s Central Bank Develop Consumer Protection Policies
By Brian Orsak
printThe Federal Deposit Insurance Corp. has agreed to help China's central bank develop a deposit insurance system as part of an effort to help bring the country's financial regulatory policies in line with international standards. The agency will work with the People's Bank of China to develop economic soundness and consumer protection policies, the FDIC said in a statement Thursday. The effort also will focus on integrating consumers in rural China, where many keep savings outside of the banking system, said agency spokesman Andrew Gray. FDIC Chairman Sheila Bair said in speech a Thursday that China would likely launch its...
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