China bank run – Chinese security arrest those who lost their deposits

Concerns are mounting over the risk of a full scale bank run in China.

• six banks across the Henan and Anhui provinces have effectively frozen deposits

Protestors outside People’s Bank of China branches across the region have been taken away by security forces

Washington Post:

• The protesters are among thousands of customers who opened accounts at six rural banks in Henan and neighboring Anhui province that offered higher interest rates. They later found they could not withdraw their funds after media reports that the head of the banks’ parent company was on the run and wanted for financial crimes.