Home Business Evergrande crisis, China on the hunt for liquidity: loosens restrictions imposed on banks for mortgage lending

Evergrande crisis, China on the hunt for liquidity: loosens restrictions imposed on banks for mortgage lending

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China is allegedly easing mortgage lending restrictions previously imposed on some of the country’s major banks. This is what Bloomberg reports, underlining how the move is most likely due to the crisis of the real estate developer Evergrande and, consequently, to the fear of a contagion effect in the sector.

The financial authorities of Beijing, Bloomberg reports, told some large banks to speed up the approval of mortgage applications in the last quarter of the year, in order to inject more liquidity into the system.

Banks were also allowed to apply to sell residential mortgage-backed securities, to free up lending quotas, again loosening a previous restriction.

See also  Evergrande emptied Hengteng Network shares and estimated loss of HK$8.5 billion | Financial Crisis | China Evergrande | Hengteng Network Equity
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