EXCLUSIVE-China's big four state banks to lower the interest rate ceilings - sources

China has told its "big four" state-owned banks to cut deposit rate ceilings on some products, three sources with knowledge of the matter said.

The interest rate self-disciplinary mechanism, a top regulatory body overseen by the People's Bank of China, urged the lenders to lower ceilings on some personal and corporate deposits by 30 basis points, effective on May 15, the sources said.

The regulatory body could not immediately be reached for comment after working hours.

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