Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

China gives Deutsche Bank, BNP Paribas corporate debt underwriting license

Published 09/02/2019, 09:49 PM
Updated 09/02/2019, 09:51 PM
© Reuters.  China gives Deutsche Bank, BNP Paribas corporate debt underwriting license

SHANGHAI (Reuters) - China has issued Deutsche Bank (DE:DBKGn) and BNP Paribas (PA:BNPP) "type A" licenses which allows them to act as a lead underwriter for corporate debt issued by non-financial institutions, said an industry body under the central bank on Tuesday.

China has been dogged by criticism of its restrictions on foreign banks which have hindered business expansion. The award of the licenses to the two banks comes as the country seeks to show progress in opening its markets amid an escalating Sino-U.S. trade war.

At the end of August, six foreign banks sought a "type A" license, according to a notice posted on the National Association of Financial Market Institutional Investors (NAFMII).

Latest comments

Only the Brave
IT GIVES ME A BAD FEELING WHEN A significantly overleveraged and NEAR-BANKRUPT ENTITY LIKE DEUTSCHE bank can add even more risk by getting a new license from a beginner such as China who themselves are significantly overleveraged and technically insolvent.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.