China's financial institutions are facing increasing credit risks

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Monday, Apr 25 2016

Financial institutions are facing increasing credit risks, China central bank vice governor Chen Yulu said on Sunday, according to a report published by the official Shanghai Securities News. Factors that influence financial market stability also are on the rise, especially as China experiences continued economic downward pressure, the newspaper cited Chen as saying.

Chen made the comments at a financial forum in Hangzhou, the newspaper reported. He also said the People's Bank of China is seeking to improve monetary policy framework and close regulatory loopholes, according to the report.

Aussie is currently being traded around 0.7750 area. Pair is likely to find support around 0.77 handle and resistance above 0.78 level. There will be no data releases later today.

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