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0.00824499411071852 0.00824499411071852 0.0100117785630154 0.0106007067137809 0.00895170789163728 0.0100117785630154 0.00883392226148422 0.0106007067137809
Stock impact report

China's banks face cash crunch fears after authorities seize lender [CNBC]

CHINA CONSTR BK UNSP/ADR (CICHY) 
NASDAQ:AMEX Investor Relations: ccb.com/en/newinvestor/index.html
Company Research Source: CNBC
Chinese authorities' takeover of the distressed Baoshang Bank — the first such case in nearly 20 years — has spooked the banking sector in the country, with banks finding it more difficult to borrow money from large lenders in the past month. China's central bank and the country's banking and insurance regulator announced in late May that they would seize control of the unlisted Baoshang Bank for a year , highlighting the serious credit risks posed by the bank. Since then, risk aversion has spread among China's big banks considering loans to smaller financial institutions. The interbank market — where banks lend to one another — has been hit, causing cash flow issues for borrowers. That has raised concerns about risks to the financial sector against the backdrop of rising defaults and a slowing Chinese economy. Beyond liquidity issues, the risk is also set to spill over to China's domestic bond market, as lenders are becoming reluctant to accept corporate bonds from smaller firms as c Show less Read more
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