Title

PRC securitization : legal and rating developments

Document Type

Book chapter

Source Publication

The Securitisation & Structured Finance Handbook 2018

Publication Date

9-2017

First Page

44

Last Page

50

Publisher

Adrian Hornbrook

Abstract

The 1997 Asian financial crisis demonstrated how excessive concentration of credit and liquidity in the banking sector made economies vulnerable to systemic economic collapse. The Asian financial crisis saw many Asian currencies attacked and suffer significant de-valuation. The People’s Republic of China (China or PRC) was relatively insulated from that 1997 Asian financial crisis because of one key reason – its strict exchange controls of the local CNY currency. On the other hand, the 2008 global financial crisis demonstrated the risks of China’s over-reliance on the US dollar as its reserve currency, and the limitations of CNY remaining a controlled currency.

Publisher Statement

Copyright © Copyright rests with the publisher, Capital Markets Intelligence Limited 2017. Access to external full text or publisher's version may require subscription.

Additional Information

ISBN of the source publication: 9780995479159

Full-text Version

Publisher’s Version

Recommended Citation

Ong, K. & Ho, H. M. S. (2017). PRC securitization: Legal and rating developments. In L. Paul (Ed.), The Securitisation & Structured Finance Handbook 2018 (pp. 44- 50). United Kingdom: Adrian Hornbrook.

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