Zhongyuan Bank Co logo

1216 - Zhongyuan Bank Co News Story

HK$1.07 -0.0  -0.9%

Last Trade - 7:59am

Sector
Financials
Size
Mid Cap
Market Cap £2.02bn
Enterprise Value £10.13bn
Revenue £2.23bn
Position in Universe 576th / 6093

China regulator reprimands banks over Yongcheng bond default

Fri 15th January, 2021 9:35am
SHANGHAI, Jan 15 (Reuters) - China's interbank bond market
regulator said on Friday that it had instructed three banks to
conduct "thorough rectification" after they violated regulations
as chief underwriters for Yongcheng Coal & Electricity Holding
Group Co Ltd.
    Yongcheng defaulted on a 1 billion yuan bond on Nov. 10,
just weeks after it sold fresh debt, sparking a selloff in
China's corporate debt market.
    In a series of statements, the National Association of
Financial Market Institutional Investors (NAFMII) said it had
also referred the violations by Industrial Bank  601166.SS ,
Zhongyuan Bank <1216.HK), China Everbright Bank  601818.SS  to
the central bank and the banking and insurance regulator. 

 (Reporting by Andrew Galbraith and the Beijing Newsroom;
Editing by Catherine Evans)
 ((Andrew.Galbraith@tr.com; +86 21 2083 0079; Reuters Messaging:
andrew.galbraith.thomsonreuters.com@reuters.net ; Twitter: https://twitter.com/apgalbraith))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.