As the European debt crisis worsens, the Bank of China is taking steps to make sure that problems from the continent will not affect their business. The bank which plays a large role in China's onshore foreign exchange market, has stopped foreign exchange forwards and swaps trading with several European banks.

The financial institutions affected includes, French banks Societe Generale, Credit Agricole and BNP Paribas. The decision is being made partly because of the downgrade of the entities by Moody's ratings agency. The move may apply to all of the Bank of China's branches, including the onshore foreign exchange market.

Some industry insiders believe the action is an indication that Chinese lenders have joined the growing ranks of institutions cutting exposure to the crisis-hit eurozone.

vivi笔记：

debt crisis：债务危机
the Bank of China：中国银行
foreign exchange market：外汇市场
financial institutions：金融机构
French banks Societe Generale：法国银行兴业银行
Credit Agricole：农业信贷银行
BNP Paribas：巴黎银行
Moody's ratings agency：穆迪评级机构

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