drew Retweeted Tracy Alloway
Chinese banks are putting a freeze on interest payments and delinquency reporting to keep the mounting debt crisis from blowing up amid the spread of coronavirus. A band aid solution, but for how long?https://twitter.com/tracyalloway/status/1233170243582857217 …
drew added,
Tracy AllowayVerified account @tracyalloway
In 2009 the US eased mark-to-market accounting to help banks weather the financial crisis.
Now, China is taking the extraordinary step of delaying recognition of bad loans to help its banks.
https://www.bloomberg.com/news/articles/2020-02-27/china-makes-bad-loans-disappear-as-virus-pummels-banking-system …
7:58 PM - 27 Feb 2020
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