China's top lenders should enhance risk management practices and be more sensitive to macroeconomic fluctuations, senior Chinese banking officials said, in response to a global banking sector crisis that has roiled financial markets.
The collapse of Silicon Valley Bank suggests banks should strictly abide by the regulatory requirements and measures of risk management, Xie Xiaoxue, from China Construction Bank Corp's credit management department, said.
"China's commercial banks should constantly improve the organisational structure of risk management and strengthen risk governance with sound and prudent measures," Xie wrote. Xie said that Chinese banks should fully use stress tests and other tools to measure the impact of economic fluctuations and the changes in market participants' financial situations.
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