tyb
Chinese banks ditch bad loans amid property woes
Hundreds of billions of yuan in distressed assets were sold last year. During their recently concluded earnings season, Hong Kong-listed Chinese banks sent a positive signal about their asset quality. Even as China's property market faltered, their nonperforming loan ratios which measure bad debts as a percentage of the total remained steady overall.
The reports of the Chinese banks also demonstrated the considerable financial engineering that was involved in keeping the ratios stable. Lenders last year sold off 2.7 trillion yuan ($392 billion) in NPLs, according to the mainland regulator, with many of the delinquent debts winding up on the books of state-owned distressed asset management companies that often absorb troubled credits in China. (This is exactly what will habben here as the NPL ratio in the US loan markets is spiking across all asset classes-the FED will just step in with an additional acronym program-the last one, The Bank Term Lending Facility-this the one they created after Silicon Valley Bank went tits up-is run directly out of the US Treasury slush fund and Black $ source The 'Exchange Stabilization Fund' so although it's not being used as much as the discount window is it's not really traceable…can read all about that here America's Darkest Secret: The Exchange Stabilization Fund'''
https://steemit.com/informationwar/@richq11/america-s-darkest-secret-the-exchange-stabilization-fund
Credit-rating agencies have responded by raising the alarm about the asset managers. China Great Wall Asset Management, one of the four major "bad banks" set up by Beijing in the late 1990s to support troubled state-owned lenders as they sought stock market listings, was placed on negative credit watch by Fitch Ratings on April 3 (and still no mention of Evergrande by any of them). Moody's Investors Service placed Great Wall's peer, China Huarong Asset Management, under review for a downgrade on March 23. This was also set up after the 'Asian Financial Crisis' (there were four in total) which was triggered by Long Term Capital Mgmt's failure and Soros profited LARGE on the Thai Bhat during that whole episode)'''
David Jinhua Yin, Moody's Hong Kong-based senior credit officer, said there was a "weakness in risk management" at Huarong, which reported a net loss of 27.58 billion yuan last year, slipping from a 378 million yuan profit in 2021. The way the loan sales work can be gleaned from Bank of Gansu, a midsize Hong Kong-listed lender based in the northwestern Chinese province of Gansu. In two auctions held in June and December of last year, the bank sold distressed loans with a face value of 2.74 billion yuan – equivalent to about two-thirds of its overall NPLs at the end of 2021.
Six asset managers were invited to bid and three emerged victorious, according to the bank's annual report published on March 30. The biggest chunk of the bad loans 2.33 billion yuan went to a local-government "bad bank," Gansu Asset Management, a subsidiary of Gansu Province State-owned Asset Investment Group, which is in turn a substantial shareholder of Bank of Gansu.
Bank of Gansu booked a 1.48 billion yuan loss on the NPL sales, saying they were done to "relieve the existing pressure on the nonperforming assets … and to activate the bank's credit stock."
Even with the disposals, the bank's NPLs stood at 4.19 billion yuan at the end of last year, up 3% from the end of 2021. But its NPL ratio slid 0.04 percentage points to 2% as overall lending grew by 6%. Chairman Liu Qing said in a statement that the bank which reported a net annual profit of 600.7 million yuan had a "steady and healthy" business and "good momentum."
https://asia.nikkei.com/Spotlight/Market-Spotlight/Chinese-banks-ditch-bad-loans-amid-property-woes
Not one mention of Evergrande in the entire article…kek
And everyone that thinks the dollar is just gonna up and vanish (de-dollarization is occurring so don't miss the forest through the trees) it makes up 96% of International trade and the Yuan 2%..the dollar is gonna die here between us regular folks before it falters on the global stage (it won't take long after that habbens because all of them will be coming back here when it does) and don't forget the Yuan has Yuge capital controls-to keep the citizens from bailing on it but there are still ways to get it out-on it as well as being pegged to….the US $
totally looking like Sr. now
and take that hat off you don't deserve to even be seen in it
TS everyone has issues making them public is a choice
Kinda like John Edwards "muh wife has cancer so you have to vote for me"
BOXER43 C-40C heading back to JBA ..this is the U.S. Delegation that went to Taiwan on 0406-Thursday
Rep. Michael McCaul, R-Texas, the chairman of the Foreign Affairs Committee, Reps. French Hill, R-Ark., Michael Lawler, R-N.Y., Ami Bera, D-Calif., Young Kim, R-Calif., Nathaniel Moran, R-Texas, Guy Reschenthaler, R-Pa., and Madeleine Dean, D-Pa.
U.S. lawmakers arrive in Taiwan as China blasts McCarthy’s meeting with Tsai
https://www.nbcnews.com/news/world/us-lawmakers-arrive-taiwan-china-mccarthy-tsai-rcna78452
then take the bake instead of complaining