China’s Banks Struggle for Short-Term Funds: Overnight Rates Skyrocket
China’s Banks Struggle for Short-Term Funds: Overnight Rates Skyrocket Description Banks in China have accelerated their borrowing of short-term funds, with some, reports Bloomberg, having to pay a 50% overnight rate last week. The Bloomberg report is gated, but in brief: fears of a cash crunch still loom, authorities sought to calm traders after a…