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Wednesday April 25, 2012

China tightens underwriting rules

BEIJING: Chinese banks are now required to treat corporate bonds that they underwrite as credit lines and include them in their loan books, the China Business News reported.

The change was the latest move by the China Banking Regulatory Commission (CBRC) to control off-balance risks in the banking system, the newspaper reported, citing unnamed bank sources.

“Just as the CBRC had previously asked banks to include off-balance sheet trust businesses in loan books, it is now moving to bond underwriting in increasingly strict regulation,” a banker was quoted by the newspaper as saying. - Reuters

For Another perspective from the China Daily, a partner of Asia News Network, click here

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