Two of China’s largest banks unveiled plans to sell total loss-absorbing capacity (TLAC) bonds this week, as Chinese lenders draw up plans to sell these newly introduced securities for strengthening their balance sheets and meeting the central bank’s solvency regulations.
State-owned lender the Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, said it will raise 30 billion yuan (US$4.2 billion) and Bank of China (BOC), another government-owned bank, said it will borrow 30 billion yuan via such issuances.
Source: CHINA