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  • November 28, 2014
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  1. Personal credit data threatened

    Posted May 23rd 2007, 12:00am by Andy Chen

    ... Andy Cheng Hong Kong's privacy watchdog has proposed extending credit data accessible by banks from five years to nine years on individuals who declare bankruptcy without defaulting on any loans. As bankruptcy cases are in general discharged after four years- when the bankrupted person cannot borrow from banks- the proposed extension would allow lenders to actually monitor ...

  2. Buyers misread policy targets

    Posted Sep 17th 2008, 12:00am by Louis Beckerling

    ... was overtaken by the shock value of United States investment bank Lehman Brother's announcing it had failed to find a rescuer and would file for bankruptcy. Around the region stock markets ...

  3. Regulator clears bids to raise capital

    Posted Jul 27th 2011, 12:00am

    ... face bankruptcy if they fail to raise money. 'China does not have a bankruptcy law for banks at this point,' said Werner. 'This notice, along with the fact that the CBRC is starting to draft bankruptcy regulations, could be interpreted as a prelude to setting out standards in an area that has been seriously lacking for the past 30 years.' The guideline also says ...

  4. Smart money

    Posted Jul 02nd 2012, 12:00am

    ... and predictions of bankruptcies of central and commercial banks that will precipitate a Europe-wide recession. It discusses current events and the expected impact on markets. Sections on Elliott Wave ...

  5. Bad loan rate adds to woes in Wenzhou

    Posted Nov 05th 2011, 12:00am

    ... after a recent debt crisis in which at least 80 businesspeople were reported to have disappeared, committed suicide or declared bankruptcy this year. Beijing's tighter monetary policy has ... As the situation worsened, some business owners have declared bankruptcy or simply disappeared, which has hit the private banking system hard and prompted worries that the debt problem may escalate ...

  6. Mainland firms fear credit crunch

    Posted Jun 06th 2012, 12:00am

    ... slowdown and said credit tightening policies would make access to bank credit harder. Respondents said they expected a slew of company bankruptcies in Wenzhou, Zhejiang province, which, added ...

  7. US firm fills niche with loans to mainland SMEs

    Posted Apr 02nd 2012, 12:00am

    ... Daniel Ren in Shanghai CIT Group, a US-based financial-services firm, has entered the market for lending to small business on the mainland. Having successfully emerged from a Chapter 11 bankruptcy restructuring in 2010 following a disastrous foray into subprime lending in the US market, CIT has now tied up with mainland banks in a bid to fill a niche for small-business loans ...

  8. Wenzhou's grey loan market in downturn

    Posted May 14th 2012, 12:00am

    ... disappeared, committed suicide or declared bankruptcy, invalidating debts worth about 10 billion yuan (HK$12.3 billion), Xinhua said. 'Private lending in Wenzhou is shrinking rapidly,' said ...

  9. BOCHK aims for June payout in Lehman saga

    Posted May 26th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Bank of China (Hong Kong) said yesterday it planned to compensate people who bought Lehman Brothers minibonds by next month. In March, 16 Hong Kong banks agreed to pay minibonds holders a percentage of their losses following the US investment bank's bankruptcy during the financial crisis. BOCHK agreed to pay eligible customers 85 to 96.5 per ...

  10. Financing laws face overhaul

    Posted Mar 15th 2012, 12:00am

    ... officials in Wenzhou, in Zhejiang province, handed the State Council proposals to reform private lending and fund-raising last year after thousands of businesses fell into bankruptcy. Hu Chengzhong, ...




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