PBOC signs MoU with FDIC

Agreement covers technical assistance and other concerns.

The People's Bank of China and the U.S. Federal Deposit Insurance Corporation signed a memorandum of understanding on matters of technical assistance, exchange of information and policy coordination.

Areas covered by the MoU included financial services, depositor protection and global financial stability policies. In 2007, both institutions signed an MoU coveringtraining, deposit insurance and the promotion of healthy banking system operations.