China’s Biggest Banks Quicken Pace of Bad-Loan Security Sales
- Lenders set to sell another $600 million of the securities
- Efforts come as BIS warns of risk of banking strains
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China’s biggest banks are stepping up their sales of securities backed by bad loans.
Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and China Merchants Bank Co. will sell a total of about 4 billion yuan ($600 million) of the securities from Tuesday through next Monday, according to statements from the lenders over the past week.