The CSDCL shall, according to its operation rules, process the matters concerning the centralized register and deposit of non-overseas listed shares of overseas listed companies.

If Bear Stearns betrayed weakness, they worried, skittish customers would pull their money out of the firm, and other financial institutions would refuse to trade with it.

The back-in-vogue Mr Volcker, it should be noted, supports inflicting bank-like regulation on money-market funds, many of which sit within Wall Street firms.