"However, US regulators need to pay attention to changes in depositor sentiment and strengthen guidance for them.
Under the scheme, a depositor can expect to receive an insurance payout within seven working days after an incident.
The payout covers a deposit of no more than 500,000 yuan for each depositor in a bank.
The institutions can make a claim for payment, or start the depositor reimbursement, under certain conditions, according to the proposals viewed by this reporter.
Deposits and interests of up to 500,000 yuan ($74,612) per depositor at each bank will be fully covered.
"China launched a deposit insurance system in 2015, announcing that accounts with deposits of up to 500,000 yuan ($74,863) per depositor will be insured if a bank suffers insolvency or bankruptcy.
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