An article from Reuters is a good read while we wait for the Asian timezone to seeing into gear: Chinese banks get serious about risk of bad debts swell
- Chinese banks are scrambling to get on top of bad debts they have downplayed for years
- Cutting off riskier borrowers, further tightening lending terms and, in one case, deploying teams of investigators to assess the risk of loan defaults.
- Bank of Communications assembled research teams last month to look over the assets of troubled borrowers in Zhejiang province, according to bank sources and an internal document.
More at the link
