Bank of America Merrill Lynch stress test predicts $520 bn drop in China's FX reserves amid capital outflows

Bank of America Merrill Lynch stress test predicts $520 bn drop in China's FX reserves amid capital outflows The passage is an internal research note forecasting currency volatility and reserve declines. It contains no specific allegations, transactions, or links to high‑level officials, making it a low‑value lead for investigative work. Key insights: Predicts USD/CNY could reach 7.25 by end‑2017 due to capital outflows.; Projects a $520‑$220 bn reduction in China's foreign‑exchange reserves in 2017.; Identifies illicit capital outflows as a factor but provides no details on actors or mechanisms.