中国终于要动手了。。。tnnd

lite1067

China Said to Plan Tightening of Capital Requirements for Banks

Aug. 21 (Bloomberg) -- China plans to tighten capital requirements for banks, threatening to curb the record lending that’s fueled a 60 percent rally in the nation’s stock market, three people familiar with the matter said.

The China Banking Regulatory Commission sent a draft of rule changes to banks on Aug. 19 requiring them to deduct all existing holdings of subordinated and hybrid debt sold by other lenders from supplementary capital, said the people, who have seen the document. Banks have until Aug. 25 to give feedback, said the people, who declined to be identified as the matter is private.

As a result, banks may need to rein in lending or sell shares to lift capital adequacy ratios to the 12 percent mandated by the regulator. Chinese stocks briefly entered a so- called bear market this week on concerns the government would stymie new loans that exceeded $1 trillion in the first half. A news department official at the regulator declined to comment by phone and didn’t immediately respond to a faxed inquiry.

“This move will cut one of the most important funding sources for banks,” said Sheng Nan, an analyst at UOB Kayhian Investment Co. in Shanghai. Banks will “have to either raise more equity capital or slow down lending and other capital consuming businesses to stay afloat.”

China’s banks have sold 236.7 billion yuan ($34.6 billion) of subordinated bonds so far this year, almost triple the amount issued during all of 2008. The banking regulator estimates about half of the subordinated bonds in circulation are cross-held among banks.

Record Lending

Those debt sales came as new loans rose to a record 7.37 trillion yuan in the first half. About 1.16 trillion yuan of loans were invested in stocks in the first five months of this year, China Business News reported on June 29, citing Wei Jianing, a deputy director at the Development and Research Center under the State Council, China’s cabinet.

“I’m worried about a correction in a market that has been driven by cheap money,” Devan Kaloo, who oversees $11.5 billion as head of global emerging markets at Aberdeen Asset Management Ltd., said Aug. 19.

China’s benchmark Shanghai Composite Index almost doubled during the first seven months of this year through Aug. 4, after falling 65 percent in 2008. Since reaching this year’s high on Aug. 4, it’s plummeted 15 percent. The index on Aug. 19 briefly fell 20 percent from this year’s high, the threshold for a bear market, before ending the day down 19.8 percent. The gauge rebounded yesterday, rising 4.5 percent.

Credit Concerns

The weighted average capital adequacy ratio of 205 commercial Chinese banks at the end of 2008 was 12 percent, up 3.7 percentage points from a year earlier, according to the industry’s annual report. The weighting was strongly affected by the nation’s five-largest banks, which account for 52 percent of assets in the industry.

The banking regulator has indicated it’s concerned about excessive credit creation. Last month, the commission ordered lenders to raise reserves against non-performing loans, to ensure loans for fixed asset investments go to projects that support the real economy and announced plans to tighten rules on working capital loans.

Banks are allowed to count subordinated bonds they sell as supplementary or lower-Tier 2 capital. In the event of bankruptcy, holders of subordinated notes receive payment only after other debt claims are paid in full.

The regulator’s rule change requires banks to subtract all existing holdings of subordinate bonds issued by other lenders from their own subordinated bonds being counted as supplementary capital.

Hybrid Bonds

In addition, the new rules also limit the amount of subordinated or hybrid bonds banks can hold, the people said. A bank’s holding of subordinated and hybrid bonds issued by a single bank can’t exceed 15 percent of its core capital, the people said. Holdings of all subordinate and hybrid bonds issued by banks can’t exceed 20 percent of core capital.

The regulator has called on small publicly traded banks to have a minimum capital adequacy ratio of 12 percent by year’s end, up from the current 10 percent. The ratio, a measure of how much in losses a bank can absorb, is calculated by dividing capital by risk-weighted assets. A bank’s risk-weighted assets are comprised partly of loans.

After deducting subordinated bonds issued by other banks, lenders must either raise core capital or reduce their loans to meet the capital adequacy ratio requirements.

“It’ll be hard for commercial banks to sell subordinate bonds because much of the debt is sold to their counterparts,” said Xu Xiaoqing, a bond analyst at China International Capital Corp. in Beijing. “This rule would tighten lending by commercial banks, especially small and medium sized banks that have relatively less capital.”

For Related News and Information: Top financial stories: FTOP <GO> Stories on China Banks: TNI CHINA BNK <GO> Comparison with peers: 1398 HK <Equity> PPC <GO>
Last Updated: August 20, 2009 23:24 EDT

summer123

up

kkkk

逃吧

yam

还不逃？

小亥

积极外外地,还是看中文的吧.

四新股半日走势平稳 涨幅均低于100%

新浪财经讯 今日挂牌上市的四只新股半日走势平稳。博深工具开盘报17.01元涨47.91%，半日涨45.39%报16.72元；天润曲轴开盘报21.25元涨51.79%，半日涨44.14%报20.18元；光迅科技开盘报27元涨68.75%，半日涨79.75%报28.76元；新世纪开盘报39元涨71.05%，半日涨62.63%报37.08元。

　　博深工具：发行价格11.5元/股，发行数量4340万股，今日上市3472万股，发行市盈率38.3倍。公司主营金刚石工具、小型建筑施工机具和合金工具的生产，具备年产金刚石工具1000万件、小型建筑施工机具7万台、合金工具80万件能力，是业内龙头企业。

　　天润曲轴：发行价格14元/股，发行数量6000万股，今日上市4800万股，发行市盈率33.3倍。公司主要研制、开发、生产和销售曲轴产品，涵盖轻型、中型和重型载货汽车和轿车用发动机曲轴，设有国内唯一的国家级曲轴研发技术中心。

　　新世纪：发行价格22.8元/股，发行数量1350万股，今日上市1080万股，发行市盈率34倍。公司主营业务为应用软件开发与销售、系统集成及技术支持与服务，主要产品为安全生产管理软件、实时数据集成应用平台、电子政务软件。

　　光迅科技：发行价格16元/股，发行数量4000万股，今日上市3200万股，发行市盈率35.4倍。公司是国内通信光电子器件制造的龙头企业，主要产品包括光纤放大器、波分复用器、光集成器件等。(燕青)

SpringMountain

coexist

...

煮雪

那三个人是媒子。反骨仔。