-
PBoC looks to the future
On 23 October, the People’s Bank of China presented several amendments to its governing law. Though the proposal introduced various changes, it also featured one important constant. Like its predecessor, Chapter 5 of the latest law details the PBoC’s supervisory responsibilities. Chapter 6 is a new section on the supervisory tools at its disposal. The central bank’s financial stability responsibilities remain unchanged. However, the proposal introduces ‘macro-prudential management’, as well as terms that have become familiar since the 2008 financial crisis, such as ‘stress test’ and ‘counter-cyclical ... (full story)