China may allow more bond failures with credit-default swap trading
Add BT as a preferred sourceHong Kong
CHINA'S approval of credit-default swap (CDS) trading for the first time is fuelling speculation that the authorities will allow more bond delinquencies as the economy slows.
The People's Bank of China has approved rules governing CDS trading in the country, according to a statement from the National Association of Financial Market Institutional Investors, a unit under the central bank. The purpose is to help diversify credit risks and facilitate healthy development of the market, the statement said.
TRENDING NOW
Singapore developer in limbo after Timor-Leste scraps major township project
Troubled platform UCars founded by group of dealers wound up on S$4 million debt
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
