“The value of precious metals held by China’s biggest lenders surged 66 percent from a year ago as banks lease more gold to customers because tighter borrowing rules make it harder to lend funds. The growth since last year outpaced the gain in benchmark bullion prices, which rose 7.5 percent over the same period. China is seeking to rein in credit by raising borrowing costs and cutting off lending to sectors considered at risk of default amid a property slump and rising number of bad loans. That’s prompting banks to hold more precious metals as they expand their gold-leasing business because it’s not subject to loan caps and is considered off-balance sheet lending, according to Industrial Bank Co.”
Did you like this?
Tip Freedomwat.ch Staff with Bitcoin
Tip Freedomwat.ch Staff with Bitcoin
Related posts:
'There is no hiding place... our bombs will kill people': Jeremy Corbyn
Kevin Trudeau jailed for not paying $38 million to feds over natural remedies
Supreme Court rules in favor of Florida property owner over denied development permit
Deputy pepper sprays, beats man with Down Syndrome
Why Is Chicken More Expensive? Media Blames McDonald's
Combat stress felt far from front lines
Inflation Fuels Crises in Two Latin Nations
How an asparagus farmer's death spurred robotic innovation
Trump ally Duterte makes rape joke after ordering martial law
Pot vaporizer boom leads to secret stoners
Canada to end airstrikes in Syria and Iraq: new prime minister Trudeau
3 Chicago-suburb cops accused of robbing drug dealers, selling cocaine
US, Israel to hold major missile defense exercise
How A Teacher Made $1 Million Selling Lesson Plans
Bill Gross: German bunds are 'the short of a lifetime'