EFG International Selects FRSGlobal's RegPro for Multi-country Regulatory Reporting
FRSGlobal, the only global provider of risk and regulatory compliance solutions on a unified platform with coverage for over 40 countries, today announced that global private banking group, EFG International has selected FRSGlobal's regulatory reporting tool, RegPro for regulatory reporting in its France, Spain, Luxembourg, Monaco, Hong Kong and Singapore branches.
China's Fat Banking Years Are Fading, And Risks Are Rising
Regulator's statistics show that in less than a year and a half, the debt of the government financing platform has increased by 3.5 trillion yuan, of which nearly 85% comes from bank loans. Analysts worry that banks' credit risks are supported by the state, and many projects relying on their own cash flow are unable to repay without that state support.
China's Lavish Lending to Last, at Least for Now
On the same day China's central bank, the People's Bank of China (PBoC), declared it would continue a loose monetary policy, 10 Chinese banks signed a syndicated loan contract for 18 projects totaling 176.2 billion yuan, China's largest syndicated loan in the history of its banking industry.
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