China Expands Bank Disclosure to Tackle Bad Debts

China’s major banks have been asked to publish data on 12 key indicators, including off balance sheet assets, to enhance their transparency.

Banks with total assets of 1.6 trillion yuan ($264bn; £160bn) will need to publish the data within four months of the end of each financial year.

China said the move was in line with rules published by the Basel Committee on international banking regulation.

There have been growing concerns over rising bad debts at Chinese lenders.

The data that banks will be required to disclose also includes cross-border assets and liabilities, the China Banking Regulatory Commission (CBRC) said.

According to data compiled by the Bloomberg news agency, the new requirements will apply to at least 12 of the 19 publicly listed Chinese banks.

via BBC

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