China - Some Banks Tighten/Suspend Lending

[sharon sanders]

This will not be popular with the growing consumerism. Lending may open up next month.

January Changsha, some banks are lending too fast and to suspend a loan-to-Business

www.rednet.cn　 2010-01-26 09:11:44​

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January Changsha, some banks are lending too fast and to suspend a loan-to-business [/FONT][FONT=&#23435]

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[FONT=&#23435]新闻链接： 长沙二套房贷利率最低打七一折首付四成[/FONT]​

[FONT=&#23435]News link: http://news.rednet.cn/c/2010/01/13/1887328.htm Changsha two sets of the lowest mortgage interest rates hit 71 off the down payment into a 4 [/FONT][FONT=&#23435]

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[FONT=&#23435]红网长沙1月26日讯（潇湘晨报滚动新闻记者赵书生）日前，银监会主席刘明康称，银监会没有对商业银行1月份的放贷给出限制性要求。[/FONT]​

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Changsha, January 26 Red Net News (Xiaoxiang Morning News journalist Zhao scroll scholar) has, the CBRC Chairman Liu said the CBRC, commercial banks in January did not give restrictive lending requirements.[/FONT]

[FONT=&#23435]但无论刘康明如何辟谣，多家银行暂停1月份剩余时间新增个人房贷已几无秘密可言。[/FONT]​

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But no matter how the rumor Ming Liu Kang, a number of banks in January to suspend the remainder of new individual housing loans has been almost no secret at all.[/FONT] [FONT=&#23435]

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[FONT=&#23435]据多家媒体报道，包括杭州、南京、福州等多个主要城市的多家银行都已暂停个人房贷的发放，理由是当月贷款额度早已用完。[/FONT]​

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According to several media reports, including Hangzhou, Nanjing, Fuzhou, and other major cities a number of banks have suspended the issuance of individual mortgages on the grounds that the month had run out of credit lines.[/FONT]

[FONT=&#23435]北京部分银行更将个人首套房贷7折利率调高至8.5折，二套房贷利率则升至贷款基准利率。[/FONT]​

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Beijing Some banks are the first suite of personal loan interest rates seven fold to 8.5 fold, two sets of mortgage interest rates have risen to the benchmark lending rates.[/FONT] [FONT=&#23435]

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[FONT=&#23435]据记者了解，长沙也不例外，包括两家国有银行和三家股份制商业银行在内的多家在长银行也已踩下个人贷款“急刹车”，暂停个贷业务，原因除了“一月份指标已用完”外，还有“被银监会点名”、“总行命令”。[/FONT]​

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According to report, Changsha is no exception, including the two state-owned banks and three joint-stock commercial banks, including a number of long personal loans banks have **** "slam the brakes" to suspend a loan-to-business, the reasons for addition to the "January indicator has been run out ", there" was named China Banking Regulatory Commission, "" headquarters command. "[/FONT]

[FONT=&#23435]即便是没有“急刹车”的银行也纷纷表示已暂时收紧放贷力度，减缓了放贷速度，开始给个贷踩“点刹”。[/FONT]​

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Even if there is no "slam the brakes", said banks have tightened lending efforts have been temporarily slowed the pace of lending, began to step on a loan, "pumping."[/FONT]

[FONT=&#23435]据了解，个人贷款业务中，房贷占了8-9成。[/FONT]​

[FONT=&#23435]It is understood that a personal loan business, mortgage accounts into a 8-9.[/FONT] [FONT=&#23435]

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[FONT=&#23435]　多家银行暂停个人贷款业务[/FONT]​

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A number of banks to suspend personal loans [/ B][/FONT] [FONT=&#23435]

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[FONT=&#23435]某国有银行个贷部负责人向本报记者透露，早在几天前他们就已接到总行通知，关闭了贷款交易系统，停止了个人贷款业务。[/FONT]​

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A state-owned banks a loan-to-head told this reporter that, back in a few days ago that they had received notice the head office, closing the loan transaction system, and stop the personal loan business.[/FONT]

[FONT=&#23435]无独有偶，另一家国有银行也表示，从本周开始“个人贷款基本暂缓发放”。[/FONT]​

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[FONT=&#23435]　　部分银行仍可办个贷业务[/FONT]​

[FONT=&#23435], some banks still do a loan-to-business [/ B][/FONT] [FONT=&#23435]

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[FONT=&#23435]而对于近期想要办理个人贷款的市民来说，只有两条路可走，要么找对银行，去那些踩了“点刹”或没踩刹车的银行，要么就等到下个月初再向银行提交贷款申请。[/FONT]​

[FONT=&#23435]For the near future the people you want to apply for personal loans, only two way to go, or come to the right bank, to those who step on the "pumping" or did not put the brakes on bank, or wait until early next month on banks to submit further loan applications.[/FONT]

[FONT=&#23435]据了解，邮储银行、光大银行、兴业银行、长沙银行、广发银行等部分银行仍可办理个人贷款业务。[/FONT]​

[FONT=&#23435]It is understood that Postal Savings Bank, China Everbright Bank, Industrial Bank, Changsha Bank, Guangdong Development Bank and some other banks can still apply for personal loan business.[/FONT] [FONT=&#23435]

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[FONT=&#23435]不过，没有停办个贷业务的个别银行已延长了贷款审批时间或加大了贷款审查力度，对二套房贷款利率也进一步收紧。[/FONT]​

[FONT=&#23435]However, there is no closed a loan-to-business, individual banks have extended loans or an increase in the loan processing time to review efforts of the two suites are also further tightened lending rate.[/FONT] [FONT=&#23435]


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[/FONT][FONT=&#23435]In addition a joint-stock commercial bank, a responsible person told journalists, "prior to mortgage application easier, and now it is difficult. Such as the original 50 million real estate company to apply for a loan, the basic full approval can be down, but now can only give 30 million indeed tightened a lot. "[/FONT]


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[Marsey]

Re: China - Some Banks Tighten/Suspend Lending

January 26, 2010
Is The Second Shoe About To Drop? Are the clues in China?

Let me get this straight. We have a double dip in real estate, a double dip in employment, a double dip in retail sales and we are now getting strong rumblings for major banking reform in the U.S. and in Asia!

The Asian markets broadly sold off tonight on continued rumblings out of China that called for their banks to raise their capital. For those that don?t know, China's central bank has told banks that they need to raise their reserve ratios today.

We have many European countries on the verge of bankruptcy and we have the Dubai crisis that won?t go away. Sure its silent for the moment but don?t be fooled into thinking that a problem isn?t lurking there.

I don?t know about you, but I am getting increasingly concerned about the fallout following this stock market rally that was built on pipe dreams and poor fundamentals.

But here?s the shoe that might just put the nail in the coffin.

The Business Insider reports that China-based, Singapore-listed firms are rapidly collapsing amidst debt and fraud. (FULL STORY HERE) As reported therein,

Since late 2007, a spate of so-called S-chips - mainland companies listed on the Singapore exchange - have borrowed money then failed to repay the debts, with some becoming mired in fraud scandals.

Not surprisingly, global investment banks have been involved in pushing the S-chips' debt onto investors

In June 2008, blue-chip investment bank Morgan Stanley sold US$109 million worth of convertible bonds issued by waste recovery group Sino Environment Technologies, based in Fujian , to a group of lenders including US investment firm Stark Investments.

The most interesting is probably this one, which is involved in an industry where you don't typically get a lot of publicly-traded action:

The most recent S-chip bond default came from China Milk Products Group, based in Heilongjiang, that produces bull semen and cow embryos for cattle breeders,
The vast majority of the investors who bought US$150 million worth of convertible bonds China Milk sold through Deutsche Bank in December 2006 have exercised an option to get their money back, a person close to the agricultural company confirmed.

It truly makes me wonder how much more of this toxic garbage is out there and what banks are going to start taking the fall.

A one week ban on lending as China announced last week is significant. It is paramount to a one week lending bank holiday. You do not place a ban on anything unless there is a problem and I don?t trust the Chinese to fully disclose their skeletons.

http://thefundamentalview.blogspot.com/2010/01/is-second-shoe-about-to-drop.html