He also “traded power for personal gain and sex”, interfering in law enforcement activities, the anti-corruption agency said.
“He relied on finance, but also fed on finance,” it added.
The statement described Fan as “reckless” and someone who had no “bottom line” of discipline and law.
Fan was also accused of using his position within the financial industry to obtain loans for others and “illegally accepting large amounts of property”.
“Fan Yifei seriously violated the party’s political discipline, organisational discipline, integrity discipline, work discipline, and life discipline, which constituted a serious duty violation and was suspected of accepting bribes and should be dealt with seriously,” CCDI said.
It added that Fan’s “illegal” gains would be confiscated and that he would be prosecuted in “accordance with the law”.
Fan is a veteran banker who spent most of his career with China Construction Bank before becoming a deputy governor of the central bank in 2015.
He has also been a key driver of China’s digital currency transition.
Last year, Sun Guofeng, head of the PBOC’s monetary policy department, was removed from office and is now subject to a disciplinary review and supervisory investigation on suspicion of “serious violations of discipline and the law” – a common euphemism for corruption.
