IMF Says Chinese Banks May Have Insufficient Capital

A recent review done by the International Monetary Fund found Chinese Banks face capital shortfalls, in particular medium and small banks; the IMF stated that China should consider boosting risk-weighted assets by 0.5 to 1 percent in the next 12 months; Jin Zhongxia, China’s representative on the IMF’s executive board said the assessment was for the most part correct but that they have already begun implementing remedies; the IMF said the problem is manageable but laid out a set of potential reforms to improve the shortfalls going forward. Source

Sign up for our Newsletters

Every morning the LendIt Fintech News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!