China banks told to halt lending to US banks-SCMP

[babsbunny]

http://www.reuters.com/article/marketsNews/idUSPEK16693720080925

BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.

The Hong Kong newspaper cited unidentified industry sources as saying the instruction from the China Banking Regulatory Commission (CBRC) applied to interbank lending of all currencies to U.S. banks but not to banks from other countries.

[NightWatcher]

1. China has denied this

http://www.marketwatch.com/news/story/china-bank-regulator-denies-report/story.aspx?guid=%7B1F3681AC-2953-4963-99EC-57BECF1E9291%7D&dist=msr_3

China bank regulator denies media report of lending ban to U.S. institutions
By Lisa Twaronite, MarketWatch
Last update: 6:26 p.m. EDT Sept. 25, 2008Comments: 20SAN FRANCISCO (MarketWatch) -- China's government moved to calm financial markets Thursday and denied a report that it had ordered mainland banks to curb lending to U.S. banks, a day after rumors of financial stability led to a run on a Hong Kong institution.

[CountAllVotes]

2. thank you for posting this information

it is not good to spread false rumors, especially during times like this. People are very worried, especially in light of Washington Mutual failing today.

No reason to add more fear to an already difficult situation. It helps no one, not the USA, its people, nor China and its people.

:dem: