is being decided behind closed doors
Plans to introduce credit default swaps (CDS) to China have
been delayed, following a disagreement between two key
regulators. But lawyers hope to see a pilot scheme before the
end of the year as the first step to legitimising a
market that already exists.
The People's Bank of China is overseeing a working group to
introduce CDS to the country. However, it has reportedly run
into opposition from China Banking Regulatory Commission (CBRC)
which is responsible for approving products,...