April 25, 2018 / 10:23 AM / a month ago

China's financial watchdog begins inspection of banks' risky lending - sources

BEIJING/SHANGHAI, April 25 (Reuters) - China’s financial regulator has launched a nationwide inspection of banks’ risky business practices, focusing on consumer loans and real estate lending in regions with high household leverage, two sources with knowledge of the matter told Reuters.

The local branches of the China Banking and Insurance Regulatory Commission (CBIRC) have deployed teams of officials to commercial banks where they will stay for at least a week and assess bank loans and client information, the sources said.

The CBIRC did not immediately respond to a request for comment outside business hours. (Reporting by Shu Zhang in BEIJING and Li Zheng in SHANGHAI Writing by Ryan Woo Editing by Jacqueline Wong)

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