Ukraine central bank has sold over $12 billion of its gold reserves during the war, its deputy head says
Abdul Hadi
Chinese regulators on Sunday urged banks to extend loans to qualified real estate projects and meet developers financing needs where reasonable, in their latest effort to ease concerns triggered by a widening mortgage-payment boycott on unfinished houses.
The remarks by the China Banking and Insurance Regulatory Commission (CBIRC) came after a growing number of home buyers across China threatened to stop making their mortgage payments for stalled property projects, aggravating a real estate crisis that has already hit the economy. read more
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Investors have continued to dump Chinese banking stocks as well as developers' shares and bonds, even after the CBIRC vowed on Thursday to strengthen its coordination with other regulators to "guarantee the delivery of homes". read more
In an interview with the official China Banking and Insurance New on Sunday, the CBIRC reiterated that it will support local governments to promote home delivery, and expressed confidence that with concerted efforts, "all the difficulties and problems will be properly solved."
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More specifically, the regulator urged banks to "shoulder social responsibility" and actively participate in the study of plans to fill the funding gap, so that the construction of stalled real estate projects can be resumed swiftly and homes can be delivered to buyers early.
It also urged banks to strengthen communication with mortgage clients and support acquisitions of real estate projects to help stabilize the property market.
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In addition, the watchdog said that financial risks in the northeastern province of Liaoning has been growing recently but were under control, and the government will take measures to prevent risks at China's small lenders. (credits:google)
Ukraine has sold $12.4 billion of its gold reserves since Russia’s invasion of Crimea.
The gold is not being sold to support the hryvnia, the currency of Ukraine.
Instead, it is being sold so that importers can buy critical products for the country.
Since the start of Russia’s invasion on February 24, the central bank of Ukraine has sold $12.4 billion of its gold reserves, according to the bank’s deputy governor on Sunday.
According to Deputy Governor Kateryna Rozhkova, “We are selling (this gold) so that our importers can buy critical products for the country.” She said that the gold was not being sold to support the hryvnia, the currency of Ukraine.
