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China to Sell Special Sovereign Bonds to Boost Bank Capital
China said it will issue special sovereign notes to boost capital at its largest state-owned lenders. The bond issuance is aimed at supporting big state banks to replenish their core tier-1 capital, Finance Minister Lan Fo’an said at a briefing in Beijing. The move will strengthen their capability to fend off risks and spur lending to better support the domestic economy, he added. Bloomberg reported last month that China could inject as much as 1 trillion yuan ($142 billion) of capital into the top lenders, with funding mainly from the issuance of new special sovereign debt, people familiar with the matter said. ... (full story)
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- Posted: Oct 11, 2024 11:41pm
- Submitted by:Category: Medium Impact Breaking NewsComments: 3 / Views: 5,289
