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  • November 23, 2014
  • Last updated: 10:46pm
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Results 1 - 10 of 31 for debt

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  1. Business - Banking & Finance - REGULATION

    UK short term lender Wonga forced to write off £220m debt after overhaul

    Posted Oct 03rd 2014, 04:22am by Reuters

    ... Reuters in London Wonga forced to write off debt worth £220m British short-term lender Wonga is writing off the outstanding debt for around 330,000 customers at a cost of about £220 ... and will mean some existing customers would no longer be able to borrow from it. It will write off all the debt of customers who are in arrears for 30 days or more. A further 45,000 customers who ...

  2. Business - Banking & Finance - REGULATION

    Rule change lets Chinese firms guarantee offshore debt

    Posted May 22nd 2014, 02:55pm by Jasper Moiseiwitsch

    ... Jasper Moiseiwitsch jasper.moiseiwitsch@scmp.com Companies will be allowed to guarantee offshore debt without prior approval under new rules Mainland eases way for firms to tap funds abroad The State Administration of Foreign Exchange has published new rules allowing firms to guarantee their offshore debt without prior regulatory approval. The liberalisation introduces ...

  3. Business - Banking & Finance - REGULATION

    China tightens rules for bond sales by local governments

    Posted Oct 17th 2014, 05:07am by Bloomberg, Daniel Ren

    ... financing vehicles (LGFVs) amid concerns that some debt-ridden regions risk insolvency and with Beijing determined to deleverage an economy facing growing financial risks. The National Development and Reform Commission, which oversees note sales by unlisted firms, would not accept applications from units in regions whose outstanding LGFV debt exceeded 8 per cent of annual economic output, ...

  4. Business - Banking & Finance - REGULATION

    China to allow insurers to raise funds through preferred shares

    Posted Sep 20th 2014, 05:10am by Kwong Man-ki

    ... announced rules in April for lenders to issue preferred shares, a form of hybrid security that has the characteristics of debt and equity with a fixed rate of return. According to the circular, ... have the capacity to issue subordinated debts to replenish capital to meet the solvency requirement," she said, adding that the costs for those debts were lower. The issue of preferred ...

  5. Business - Banking & Finance - REGULATION

    CSRC approves preferred share issue

    Posted Sep 24th 2014, 11:30am by DON WEINLAND

    ... tier-one capital. As profit growth wanes and bad debt levels rise among the mainland’s biggest lenders, analysts said, preferred shares will become a haven for investors that are able to buy ...

  6. Business - Banking & Finance - REGULATION

    Chief of Galaxy Securities unit questioned in illegal bond probe

    Posted Sep 22nd 2014, 10:20am by Daniel Ren

    ... Securities' fixed-income division adding to the unsavoury reputation of the mainland's debt market. Dai Xu, the top manager of Galaxy's fixed-income businesses, and two employees in his ... debt have been widespread in the interbank market, with unethical fund managers taking advantage of regulatory loopholes. "Those guys are smart and fearless," said a bond trader who ...

  7. Business - Banking & Finance - REGULATION

    China tightens rules for local government debt sales

    Posted May 08th 2013, 12:00am by JANE CAI

    ... Jane Cai in Beijing xuejun.cai@scmp.com Financing vehicles to be subjected to extra scrutiny if debt-asset ratio exceeds 65 per cent Rules for local government debt sales tightened ... governments to fund projects, would undergo extra scrutiny if their debt-asset ratio exceeded 65 per cent and the debt to be issued was rated below AA-plus, sources said, citing a notice from ...

  8. Business - Banking & Finance - REGULATION

    BIS sees danger signs in property prices and credit growth

    Posted Jun 30th 2014, 01:40am by Reuters

    ... that indicates trouble", the Basel-based BIS said. Rising rates would push the debt-service ratios- the share of income used to service debt- of several countries into critical territory, it said, ...

  9. Business - China Business - REGULATION

    Tighter rules for trusts and bills

    Posted Aug 18th 2012, 12:00am

    ... so-called asset management companies (AMCs)- would be banned from lending directly to investment trust companies under the pretext of acquiring bad debt. Meanwhile, continuing a clampdown ... in a financial system dominated by state-controlled banks and government-backed business. For years, the country has shuffled bad debt run up by big state firms between state banks, other state companies ...

  10. Business - Banking & Finance - REGULATION

    Stress test shows Chinese banks relatively strong

    Posted May 01st 2014, 01:28am by BLOOM

    ... requirements for banks in January last year, posing a challenge for an industry facing slower loan growth and rising bad debts amid more competition and interest-rate deregulation. Industrial ...




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