SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?


To: roguedolphin who wrote (86573)9/24/2008 11:49:34 PM
From: Little Joe  Respond to of 116555
 
Not sure I understand the implication of that but it doesn't sound good.

Little joe



To: roguedolphin who wrote (86573)9/25/2008 12:48:20 AM
From: Sea Otter1 Recommendation  Respond to of 116555
 
There was a bank run in HK today. China may be getting spooked and trying to limit exposure to our sinking ship.

Not good news for us Murikans.



To: roguedolphin who wrote (86573)9/25/2008 1:26:38 AM
From: Amark$p  Respond to of 116555
 
Wow... That is real news!



To: roguedolphin who wrote (86573)9/25/2008 1:36:42 AM
From: Amark$p  Read Replies (1) | Respond to of 116555
 
China now denying..., this is a story, if true, China would sure want to keep a lid on, leaking this is a bad idea...
_______________________

China regulator denies report it ordered banks to halt interbank deals with US
BEIJING (XFN-ASIA) - China's banking regulator has denied a media report of a ban on domestic commercial banks from lending to US financial institutions.

Citing industry sources, the South China Morning Post (SCMP) reported earlier today that the China Banking Regulatory Commission (CBRC) told domestic banks to

stop lending to US financial institutions in the interbank market to prevent possible losses.
_______________
China apparently did not like losses from Lehman Bros...

BEIJING (XFN-ASIA) - China's banking regulator has told domestic banks to stop lending to US financial institutions in the interbank market to prevent possible losses, the South China Morning Post reported, citing industry sources.

The ban by the China Banking Regulatory Commission (CBRC) is for interbank lending of all currencies to US banks but not to banks from other countries, the Hong Kong newspaper cited a source as saying.

Another unidentified source told the newspaper that the CBRC issued the ban after obtaining data about the exposure of mainland banks to bonds issued by Lehman Brothers Holdings (nyse: LEH - news - people ).

The newspaper said the CBRC was not available for comment.

Seven listed mainland banks had a combined exposure of 721 mln usd to bonds related to Lehman Brothers, the newspaper noted.

The ban covers interbank lending of all currencies to US banks but not to banks from other countries, said the Hong Kong newspaper.

The CBRC said in a statement on its website that it has not ordered such a ban and that the SCMP published the report without verifying its authenticity.

____________
BEIJING -(Dow Jones)- China's banking regulator said in a statement Thursday it has never instructed domestic banks to stop lending to U.S. financial institutions on the interbank market.

The regulator 'has never released any notices or ordered domestic commercial banks through any channels not to lend money on the interbank market to U.S. financial institutions,' the China Banking Regulatory Commission said.

Earlier Thursday, the South China Morning Post cited unidentified industry sources as saying the instruction from the CBRC applied to interbank lending of all currencies to U.S. banks, but not to banks from other countries.

The statement posted on the CBRC's Web site said the report was 'irresponsible.'