China Business News (via MNI) report:
- China Securities Finance Corp, Beijing's vehicle for stock market intervention, didn't repay its interbank loans to other banks, people with authority on this issue said
- The source said CSFC has ample liquidity
- Very wild rumours on Monday circulated that CSFC has repaid some of its interbank loans, a move suggesting that Beijing is exiting its previous stock intervention measures
- China Securities Regulatory Commission, the stock market watchdog, said last night that CSFC is not exiting and will continue to act as a market stabilizer, though it made no mention of CSFC's interbank loan
Yikes. Wild rumours indeed.
