CBRC sets trust firms new task
By Zhang Fengming |
November 20, 2010, Saturday
|
Print Edition
Print Edition
The China Banking Regulatory Commission has ordered trust firms to beef up supervision to trim risk exposure to the real estate sector.
In a risk alert notice to the trust firms, the CBRC wants them to check their property-related products "one by one" to assess risk exposure and correct any irregularities. Local banking watchdogs are also asked to ensure that the inspection is properly handled in their areas.
Earlier this year, China conducted stress tests on the country's trust firms to see if they could stand a sharp drop in property prices.
Real estate developers have tried to get capital from trust firms after being rejected by banks amid the government's tightening measures on the housing market.
China launched new measures on the housing market to curb the rise in prices in October. Banks are required to be prudent and to tighten credit on home loans.
In a risk alert notice to the trust firms, the CBRC wants them to check their property-related products "one by one" to assess risk exposure and correct any irregularities. Local banking watchdogs are also asked to ensure that the inspection is properly handled in their areas.
Earlier this year, China conducted stress tests on the country's trust firms to see if they could stand a sharp drop in property prices.
Real estate developers have tried to get capital from trust firms after being rejected by banks amid the government's tightening measures on the housing market.
China launched new measures on the housing market to curb the rise in prices in October. Banks are required to be prudent and to tighten credit on home loans.
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