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Biggest Shake Up of the US Financial System by President Obama Since the 1930s
The historically significant plan will have at its center piece a new Consumer Financial Protection Agency in order to fulfill President Obama's identification with protection against questionable financial products.
June 17th,2009
China's Bank Lending Growth Slows and Shifts to Private and Personal Loans
As the peak period for the investment of big projects included in the government's economic stimulation plan has passed, and banks are doubtful about the strength and sustainability of the economic rebound, new lending is estimated to decline further in May.
June 3rd,2009
PNC Global Investment Servicing Launches Fund Distribution Support In Asia
Localized Service Connects Asia-based Investors to U.S. and European Fund Firms
May 27th,2009
Bullish GS Announces No Reduction in Its ICBC Shares, Again
Singapore's Temasek is similarly bullish with GS about China's banks, not merely resisting any reduction in holdings but actively adding to its stash.
May 19th,2009
Hopu-Led Investors Grab Stake in CCB from Cash-Crunched Bank of America
BoA, under pressure from American financial authorities to raise capital, sold the shares for HKD 4.2 each, a 14.3% discount from Monday's closing price.
May 13rd,2009
Chinese Banks Allowed to Open Domestic Forex Accounts for Overseas Companies
Large-scale SOEs undertaking investment and M&A overseas are looking to set up their foreign exchange accounts in Chinese banks, including banks in China.
May 6th,2009
Bank Watchdogs See Risks Rising from 6.1% Q1 GDP Growth
The CBRC is also very worried about loans to local government projects
April 16th,2009
"AIG" Anger Spreads to China: Government Orders Bankers" Pay Cut
Now China's Ministry of Finance (MoF), also with an acute ear cocked towards public opinion, has decided to head off similar troubles, ordering a 10% at least cut in compensation for senior executives of state-owned financial firms. The cuts will be in pretax income, including basic compensation, incentives, social insurance, and various benefits.
April 10th,2009
Bank Lending Binge Continues, But for How Long?
After new bank lending reached over one trillion yuan in both January and February, March also saw more than one trillion yuan in new credit flow out the bank doors. The big banks are still running for the big projects involved in the government's economic stimulus plan, but a big part of funds lent for bill financing is continuing to flow into the stock market. And a large percentage of the financing is long-term and is boosting banks' NPL risk.
April 8th,2009
Big Banks' NPL Rates Rise with Big Boost in Lending
Despite the global economic jam, four of China's big state-owned banks, the Bank of China (BoC), Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Bank of Communications (Bocom), have all recently reported stunning performance. But the news is not all so pretty, as non-performing loan (NPL) ratios of three of the four banks are also climbing.
March 31st,2009
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