China banks' interbank lending falls for first time since 2010
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Bloomberg carried an article today, citing that Chinese banks’ interbank lending for the first time in seven years as the authorities’ campaign to curb risks in the $40 trillion financial system started to show its results.
Key Points:
The China Banking Regulatory Commission (CBRC) disclosed at a press conference on Friday, the balances of both interbank assets and liabilities at the end of June declined by 1.8 trillion Yuan ($270 billion) from the beginning of the year.
Entrusted loans -- lending between corporates with banks as middlemen -- declined for the first time since 2008 in April and continued to fall in the next two months, CBRC noted.
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