皇冠体育app

Money

皇冠体育app curbs lending to developers to avoid risks

(Agencies)
Updated: 2010-10-20 10:36
Large Medium Small

皇冠体育app's banking regulator urged lenders to stop providing loans to developers who hoard land or delay property sales, an effort to help shield banks from risks in the real estate industry, Reuters reported on Wednesday, citing the 皇冠体育app Business News.

Related readings:
皇冠体育app curbs lending to developers to avoid risks Housing market hit by new rules
皇冠体育app curbs lending to developers to avoid risks Property tycoons suffer decline in their wealth
皇冠体育app curbs lending to developers to avoid risks Property prices up in September
皇冠体育app curbs lending to developers to avoid risks Bankers jittery about property market

The 皇冠体育app Banking Regulatory Commission also said in a notice that banks must not lend to property projects led by central-government owned companies whose core business is not property development, unless the project itself is used as collateral, the newspaper said.

皇冠体育app has banned lending to buyers of third homes, and it raised benchmark interest rates in a surprise announcement on Tuesday, in a bid to rein in inflation and curb speculation that threatens to create asset price bubbles.