Banks must give risk reports by June: CBRC

BOAO - China's banking regulator asked the nation's lenders to submit reassessments of their risk exposure by the end of June, said Liu Mingkang, chairman of the China Banking Regulatory Commission.

Inspectors will be sent to banks in the third quarter to check on these risk assessment reports, Liu said on Sunday at the Boao Forum for Asia being held in southern China's Hainan province. The regulator will discuss with banks any deviations that are found, he said.

"By the end of the third quarter we will downgrade assets if needed and increase provisions" after the on-site inspections Liu said, without elaborating.