SUBSCRIBERS
China to allow more local bad debt managers: sources
Published Mon, Oct 24, 2016 · 09:50 PM
Beijing
CHINA'S banking regulator plans to allow local governments to set up more asset management companies (AMCs) as part of a broader effort to manage corporate debt and reduce the growing volume of troubled bank loans that pose a risk to the economy.
The China Banking Regulatory Commission (CBRC) is relaxing rules that only allow one local AMC per province, three sources told Reuters.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover