China Banks – Screws Tighten On LGFVs
CHINA BANKS: Recently the CBIRC issued guidance on implicit LGFV debt via Document 15 – further tightening the screws on mainland China's financial...
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China Banks – Big Capital Raises Coming
CHINA BANKS: The PBOC and CBIRC released finalized new capital standards for the country’s D-SIBs. Equity raises require P/BV over 1.0x and many of...
335 Views
China Banks - Abracadabra
China Loves the "F" Word: The China Bank and Insurance Regulatory Commission's (CBIRC) latest bout of bank capital forbearance in reaction to the...
456 Views
China Evergrande Group – Fox in Henhouse
EVERGRANDE: Evergrande’s risk management committee includes China Cinda, a major Evergrande creditor. This is massive conflict provides little...
395 Views
The Chinese Credit Chronicle: The Below CCC Moment
We summarize on what has happened in the Chinese high-yield world and what is next. We believe the worst is behind us but we do have a bumpy road...
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