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A comment on Baoshang collapse threatens China's economy, may trigger central bank response.

Re:Baoshang collapse threatens China's economy, may trigger ... by fspeech on Sunday June 30, 2019 @02:34AM (#20316713)
Why is this being treated as news as of now? Note the article chose to not mention a timeline or give any background at all. This bank was taken over on May 24 this year, with a very public announcement. Its purported major investor was arrested in 2017. The bank has not published an annual report since then. For details see: https://zh.wikipedia.org/wiki/%E5%8C%85%E5%95%86%E9%93%B6%E8...
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Re:Baoshang collapse threatens China's economy, may trigger ... by chewz on Sunday June 30, 2019 @04:34AM (#20317094)
https://www.ft.com/content/75bffe36-9330-11e9-aea1-2b1d33ac3...

> Banks in China are facing a pinch on liquidity following the government takeover of a commercial bank that is resetting the rules for trading in the country’s interbank market.

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Re:Baoshang collapse threatens China's economy, may trigger ... by pertymcpert on Sunday June 30, 2019 @02:59AM (#20316797)
TFA and other news aren't reporting the takeover. There's some recent additional reports coming out now of the effects the takeover had on liquidity in the interbank markets.
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Re:Baoshang collapse threatens China's economy, may trigger ... by fspeech on Sunday June 30, 2019 @03:16AM (#20316855)
This was the first default in the interbank market so it broke the implicit credit guarantee in the interbank market. So this is a reform that is long overdue but they have to start from somewhere.
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