The Shanghai Securities News reports (this is via MNI)
- Three commercial banks have started trials for securitizing their non-performing assets
- Non-performing loan ratio of China's commercial banks at the end of the fourth quarter was 1.67%, up 0.08 percentage point from the previous quarter, according to the data from the China Banking Regulatory Commission
- However, People's Bank of China Deputy Governor Pan Gongsheng said the trials have nothing to do with the NPL ratio, and non-performing asset securitization is a part of the sector's credit asset securitization program
-
Shanghai Securities News front-page report
They cite unnamed sources
-
The 'buy one get one free' is my genius marketing idea for the Chinese banks to sell this crap product. You're welcome.
