March 12, 2018 / 8:47 AM / 12 days ago

China banking regulator to broaden capital tools for commercial banks

BEIJING (Reuters) - China’s banking regulator said on Monday it will broaden tools for commercial banks to replenish their capital to boost their ability to support economic growth.

The China Banking Regulatory Commission (CBRC) is amending rules for commercial banks to issue perpetual bonds, convertible capital instruments, and other innovative loss-absorbing debt instruments, it said in an online statement.

The move will increase banks’ ability to deal with external shocks, the CBRC added.

Reporting By Shu Zhang and Beijing Monitoring Desk; Editing by Kim COghill

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