I make Nostradamus look like a fucking novelty!!!
The greatest Thesis ET has ever seen, https://www.elitetrader.com/et/thre...est-lie-ever-told.331513/page-10#post-4866480
CNH is slipping bad 7.09 looking to break at 7.10, https://www.marketwatch.com/investing/currency/usdcnh
https://www.bloomberg.com/news/arti...take-in-another-troubled-regional-bank-report
Central Huijin Investment Ltd., a unit of China’s sovereign wealth fund that owns stakes in a range of major financial institutions on behalf of the government, will buy into troubled regional lender Hengfeng Bank Co., according to local media.
The report by 21st Century Business Herald didn’t give more details of the acquisition, or say where it got the information. If confirmed, it would be the third rescue of a regional lender engineered by authorities in less than three months. Hengfeng, based in China’s Shandong province, declined to immediately comment.
China’s banking regulator said in June that the Shandong government was speeding up the restructuring of Hengfeng, a mid-sized bank that has failed to disclose its financial statements for two straight years. The lender had 1.2 trillion yuan ($170 billion) of assets at the end of 2016, according to its most recent annual report.
Central Huijin’s move would underscore policy makers’ efforts to restore confidence in smaller lenders, a key source of credit to small and medium-sized companies. China surprised the market in May with a government takeover of Baoshang Bank Co. -- the first bank seizure in more than 20 years. Two months later, regulators took a different approach by having three state-owned financial heavyweights buy stakes in Bank of Jinzhou Co., whose Hong Kong-listed shares have been halted since April.
The greatest Thesis ET has ever seen, https://www.elitetrader.com/et/thre...est-lie-ever-told.331513/page-10#post-4866480
CNH is slipping bad 7.09 looking to break at 7.10, https://www.marketwatch.com/investing/currency/usdcnh
https://www.bloomberg.com/news/arti...take-in-another-troubled-regional-bank-report
Central Huijin Investment Ltd., a unit of China’s sovereign wealth fund that owns stakes in a range of major financial institutions on behalf of the government, will buy into troubled regional lender Hengfeng Bank Co., according to local media.
The report by 21st Century Business Herald didn’t give more details of the acquisition, or say where it got the information. If confirmed, it would be the third rescue of a regional lender engineered by authorities in less than three months. Hengfeng, based in China’s Shandong province, declined to immediately comment.
China’s banking regulator said in June that the Shandong government was speeding up the restructuring of Hengfeng, a mid-sized bank that has failed to disclose its financial statements for two straight years. The lender had 1.2 trillion yuan ($170 billion) of assets at the end of 2016, according to its most recent annual report.
Central Huijin’s move would underscore policy makers’ efforts to restore confidence in smaller lenders, a key source of credit to small and medium-sized companies. China surprised the market in May with a government takeover of Baoshang Bank Co. -- the first bank seizure in more than 20 years. Two months later, regulators took a different approach by having three state-owned financial heavyweights buy stakes in Bank of Jinzhou Co., whose Hong Kong-listed shares have been halted since April.
