China Weighs Injecting $142 Billion of Capital Into Top Banks [Yahoo! Finance Canada]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: Yahoo! Finance Canada
to support the struggling economy, according to people familiar with the matter. Most Read from Bloomberg The funding will mainly come from the issuance of new special sovereign bonds, said the people, asking not to be identified discussing a private matter. The details have yet to be finalized and are subject to change, the people added. Such a move would be the first time since the global financial crisis in 2008 that Beijing has injected capital into its big banks. China is rushing to replenish its banks — even though the top six have capital levels that far exceed requirements — after unveiling broad reductions to mortgage rates and slashing key policy rates to revive the economy. Enlisted to support the economy over the past years, lenders such as Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. are now battling record low margins, sinking profits and rising bad debt. Li Yunze, the nation's top banking regulator, said earlier this week at a press conferen
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