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MNI POLICY: China Insurers To Help Recapitalize Small Banks

MNI (London)
By Archie Zhang
     BEIJING (MNI) - China's insurance companies will be able to invest in
regional bank bonds, making around CNY20 trillion available for so-called tier-2
capital bonds and perpetual bonds issued by the small and medium-sized banks,
the The China Banking and Insurance Regulatory Commission (CBIRC) said
Wednesday.
     The move will also make the bonds more attractive to other investors,
helping stressed banks to recapitalize. The Covid-19 outbreak has taken a toll
on small service providers and manufacturers, the main customers of regional
banks.
     The new regulation announced on Wednesday demand insurance companies
holding the bonds have a solvency ratio more than 120% at the end of previous
quarter. It also requires banks selling the bonds to meet the necessary capital
adequacy ratio. 
--MNI Beijing Bureau; +86 (10) 8532-5998; email: archie.zhang@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MT$$$$,MGQ$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
China Market NewsPolicy NewsBellFiscalGovernment sectorAPACChinaJapanAustraliaNew ZealandRegion
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
China Market NewsPolicy NewsBellFiscalGovernment sectorAPACChinaJapanAustraliaNew ZealandRegion
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