October 18, 2024 05:08 GMT
MNI BRIEF: China To Approve More Securities Funds - NFRA
MNI (BEIJING )
The banking regulator will support large banks to accelerate the replenishment of core Tier 1 capital to expand space for credit growth, and guide banking and insurance institutions to strengthen risk management, improving their ability to withstand risks, he said, noting it will encourage banks to work on extending and restructuring hidden debts of local governments. (See MNI INTERVIEW: PBOC Moves, Stimulus To Boost Stocks-BOC's Zong)
NFRA will enhance funding support for ultra-long-term government bonds and local government special bonds, reinforcing financing guarantees to help boost consumption by enriching consumer finance products, Li noted. It will also intensify efforts to secure housing delivery and support the recovery of the real-estate market, he added.
China will allow qualified insurance institutions to establish new private equity securities investment funds, increasing efforts to stabilise the stock market and address lender risks, including narrowing net interest margins and interest-spread losses, aid Li Yunze, head at National Financial Regulatory Administration, in a forum on Friday.
The banking regulator will support large banks to accelerate the replenishment of core Tier 1 capital to expand space for credit growth, and guide banking and insurance institutions to strengthen risk management, improving their ability to withstand risks, he said, noting it will encourage banks to work on extending and restructuring hidden debts of local governments. (See MNI INTERVIEW: PBOC Moves, Stimulus To Boost Stocks-BOC's Zong)
NFRA will enhance funding support for ultra-long-term government bonds and local government special bonds, reinforcing financing guarantees to help boost consumption by enriching consumer finance products, Li noted. It will also intensify efforts to secure housing delivery and support the recovery of the real-estate market, he added.
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