The China Banking and Insurance Regulatory Commission (CBIRC) has issued a notice on further regulating the structured deposit business of commercial banks.

The notice, which defines structured deposits and sets strict distinction between ‘structured’ and ‘general’ deposits, was formulated by the CBIRC in response to the problems in product management, misleading sales, non-compliant operation and other issues that have arisen in the recent rapid development of the structured deposit business of some commercial banks. The formulation of the notice is a systematic review of the existing regulatory provisions on structured dep

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