China banks:CBRC reportedly looks at tighter WMP rules

We have no views on the authenticity of the above report. If the news is true,it could be a further and bigger move to fix loopholes in shadow financing,following the CBRC’s move in Apr on banks’ credit assets beneficiary rights,and even earlier the MOF’s move to tighten WMP accounting treatments inJanuary, and well in line with our views that non-standard debt instrumentsmay face further regulatory headwinds (also see China Banks