Live Insurance News

China set to launch new deposit insurance initiative

December 4, 2014December 1, 2014 Nordstrom

New insurance initiative may provide depositors with some much needed protection China is launching a new deposit insurance initiative. The initiative is meant to protect depositors from the financial risks they face in the current economic climate. The insurance coverage provided to depositors will serve as a safety net from the losses they see when a bank fails to pay its own debts. A new insurance agency is being formed as part of this initiative and will be responsible for providing coverage to financial institutions operating in China. Banks will…

Deposit insurance fund may soon be coming to China

December 12, 2013December 9, 2013 H. Cutner

The central bank in the country could be assembling this fund as soon as 2014. As a step toward the establishment of an independent deposit insurance company, the central bank in China will likely be assembling a fund of that nature within the next year so that it will be prepared to provide the necessary coverage when its new product arm is ready to launch Although this action has yet to be officially confirmed, the news has been leaked by several unnamed sources. These sources, close to the central bank,…