China extends deadline for banks to submit risk assessments

Eight sets of rules were launched by the CBRC since March.

According to a report by Reuters, China's banking regulator has extended by two months a June deadline for banks to submit risk assessments over concerns it was putting strain on the lenders, two sources with direct knowledge of the matter said.

Under the leadership of Chairman Guo Shuqing, the China Banking Regulatory Commission (CBRC) started the year promising a "windstorm" to clean up the banking sector, which had been seen as failing to control risks as credit swelled.

The CBRC has launched eight sets of rules in the months since March, and Guo imposed a June 12 deadline for banks to submit written assessments on their lending and other practices, according to an internal notice seen by Reuters.

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