China imposes further caps on online lending amid clampdown ...Qatar

Gulf Times - News
China imposes further caps on online lending amid clampdown
source : Gulf Times ( Qatar ) () 10
China’s banking regulator imposed new restrictions on banks and financial institutions working with online microlenders including those led by Jack Ma’s Ant Group Co, dealing further blows to one of the fastest-growing business segments for financial-technology behemoths. Banks must cap overall joint lending with internet platforms or other partners at no more than 50% of their outstanding loans, the China Banking and Insurance Regulatory Commission said in a statement yesterday.  Co-lending with one platform should not exceed 25% of the bank’s tier-1 net capital, the CBRIC said. The new restrictions add to draft rules issued on the booming sector late last year, which heralded a sudden shi

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