Banking regulator may monitor new loans on monthly basis

The China Banking Regulatory Commission (CBRC) has revived the "loan quota" mechanism and will scrutinize commercial banks' lending pace on a monthly and quarterly basis, according to sources familiar with the matter.

"Each commercial lender should, each month, advance no more than 12 percent of the total new credit it planned to give out in the year," the source told China Daily yesterday on condition of anonymity.