July 19, 2019 / 9:33 AM / 6 months ago

China relaxes capital replenishment rules for non-listed banks

BEIJING (Reuters) - China’s banking and insurance regulator said Friday that it has relaxed rules to help country’s non-listed banks replenish capital.

The regulator will allow most city commercial banks and rural commercial banks that meet regulatory requirements to issue preferred shares to replenish tier-1 capital, according to a statement by the China Banking and Insurance Regulatory Commission (CBIRC).

Reporting by Cheng Leng and Beijing Monitoring Desk; Editing by Kim Coghill

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