ahhaha's ahs Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : ahhaha's ahs

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: sixty2nds who wrote (24277)	1/26/2014 11:58:17 PM
From: sixty2nds	Read Replies (1) of 24758

marketwatch.com By Michael Kitchen LOS ANGELES (MarketWatch) -- Citigroup Inc.'s C -2.74% China branches, and possibly other banks, have stopped all cash transfers for three days and all currency conversions from yuan for nine days, Forbes reported Sunday via an article by contributor Gordon Chang. Citi reportedly made the announcement in a notice on its web portal for Chinese customers, saying the move was a result of "system maintenance of People's Bank of China," a reason Forbes's Chang described as "preposterous." MarketWatch couldn't immediately confirm the report. Chang said the move was similar to action taken in June and December of last year. "In June, for instance, the central bank used the excuse of a 'system upgrade' to allow banks to shut down their ATMs and online banking platforms. As a result, they conserved cash and thereby avoided a nationwide meltdown," Chang wrote. See the Forbes item here .

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next