ICBC Chairman: Bank Will Not Compensate CCT Investors, Or Maybe A Little

Jiang Tells CNBC That ICBC Won’t Compensate Trust Investors
Industrial & Commercial Bank of China Ltd. Chairman Jiang Jianqing said the lender won’t compensate investors for losses tied to a troubled trust product distributed by the bank, CNBC reported on its website.

The incident will be a lesson for investors on moral hazard and risks associated with such investments, Jiang told CNBC from the World Economic Forum in Davos, Switzerland. The Beijing-based lender won’t take “rigid responsibility” for the losses and will review all its partnerships in entities with which it does business, Jiang said, according to CNBC.


But then: China's ICBC says will help repay investors in troubled shadow-banking scheme

The time stamp is later on the latter story, but I assume the Chairman's words are the current policy.

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