Loans News
- Ban on loans for stock investments reiterated
Date: 30-Jan-2007 Sources: (Shenzhen Daily)
THE banking regulator reiterated that banks are not allowed to lend money to individuals or companies for stock investments and ordered banks to conduct an internal examination, the Shanghai Securities News reported over the weekend.
'Financial institutions should take timely and necessary measures to call back the loans if they find that (individuals or companies) are misusing the loans to invest in the stock market,'the report said, citing a notice sent by the China Banking Regulatory Commission to financial institutions recently.
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