Banks in China are facing a pinch on liquidity following the government takeover of a commercial bank that is resetting the rules for trading in the country’s interbank market.
Many of China’s more than 4,000 banks face difficulty raising deposits in smaller cities and rural areas, making them more reliant on wholesale borrowing from the interbank market, where banks lend to one another.
But the government takeover of Baoshang Bank in May has disrupted the willingness of larger banks to lend to smaller ones, leaving some strained for liquidity.
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