Published at 06:08 (GMT) 22 Sep
China supports the efforts of the Financial Stability Board (FSB) in improving capital requirement of global-systematically important banks (G-SIBs) to reduce risks, China's central bank governor has said. Zhou Xiaochuan, head of the People's Bank of China, made the remarks in the Australian city of Cairns as the world's finance ministers and central bank chiefs gathered to discuss economic and financial systems during the weekend, the bank's website said on Sunday. He also called for flexible enforcement, saying situations of banking development in different countries should be taken into consideration..
USD/CNH seen lower between 6.1396 - 6.1455 in early trade as talk of stimulus was refuted by the Finance Minister over the weekend. The spread between onshore and offshore yuan had once again narrowed, and we expect the latter pair to stay depressed. Any rallies towards 6.1500 should be well sold. C.L
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