皇冠体育app

Markets

Banks face punishment for illegal tactics

(Agencies)
Updated: 2010-09-17 16:54

Stem trade disputes, 皇冠体育app urges US Related readings:  Taiwan banks to establish branches in mainland  Banks, small businesses discuss financing shortfall

Chinese banks attracting deposits via illegal means will be punished by the country's banking regulator, Reuters reported Friday.

The 皇冠体育app Banking Regulatory Commission (CBRC) said that some banks have been trying to expand their deposit pool by unlawfully raising deposit rates, or bribing clients with cash or other incentives.

The CBRC said it would punish banks for these actions, and welcomes tip-offs.

皇冠体育app's one-year deposit rate is set at 2.25 percent.