Daniel Stanton is head of Asian credit at IFR and is based in Singapore, where he has been reporting on capital markets since 2009. He has previously worked in Dubai, London and Pontypridd. He can be found tweeting at @IFRstanton.
China last week moved to ease concerns over the health of smaller lenders with an unprecedented credit guarantee, amid warnings that low-tier banks may still find it hard to access funding after the state takeover of troubled Baoshang Bank.
China has allowed some of the proceeds from “special bonds” used to fund local government infrastructure projects to count as capital, in a move that could inject trillions of renminbi into the country’s slowing economy.
The Reserve Bank of India has released a new framework for the resolution of stressed assets that gives more flexibility to lenders to resolve bad debt without making it mandatory for them to refer stressed accounts to bankruptcy courts.