Chinese Regulator Asks Major State-Owned Banks To Lower Dollar Deposit Rates By As Much As 100 Basis Points To 4.3%
Portfolio Pulse from Charles Gross
Chinese regulators have asked major state-owned banks to lower dollar deposit rates by up to 100 basis points to 4.3%, according to Reuters sources.
June 06, 2023 | 10:46 am
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The iShares China Large-Cap ETF (FXI) may be impacted by Chinese regulators' request to lower dollar deposit rates at state-owned banks.
The request to lower dollar deposit rates at major state-owned banks may lead to reduced profitability for these banks, which are part of the iShares China Large-Cap ETF (FXI). This could negatively impact the ETF's performance in the short term.
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