The National Association of Financial Market Institutional Investors (NAFMII) said in a statement the banks – all based in eastern Jiangsu province – “were suspected of manipulating prices and transferring benefits in the secondary market trading of treasury bonds”.
The four banks are Changshu Rural Commercial Bank, Kunshan Rural Commercial Bank, Jiangsu Suzhou Rural Commercial Bank Co and Jiangnan Rural Commercial Bank, according to the statement.
Source: Economy - investing.com
