China's banking regulator said risks at small and mid-sized banks are manag...
BEIJING - China’s banking regulator said risks at small and mid-sized banks are manageable, a central bank publication reported on Sunday, in the latest move to soothe investors’ concerns after the government took over a troubled regional lender last month.
While authorities said it was a standalone case, the seizure comes as Beijing is urging banks to boost lending to help cushion an economic slowdown, fuelling concerns about the health of smaller lenders’ balance sheets amid rising debt and bad loans. Volatility in the interbank market has significantly eased, according to banks which participated in the meeting.
The CBRIC on Sunday sought to allay concerns about such practices, saying some of the banks that have been unable to complete audits were in the midst of equity restructuring, some were preparing to go public and some had changed auditors.In particular, Shandong-based Hengfeng Bank, which is in the midst of a restructuring spearheaded by the Shandong province, was singled out by CBIRC on Sunday amid market speculation of further consolidation moves after Baoshang’s take-over.
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