News for hackers. Stuff that matters.

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

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.
[ Parent | on HN ]
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.
[ Parent | on HN ]