消息称央行允许商业银行将企业不良贷款置换为股权

据外媒援引消息人士称，中国央行将允许商业银行将企业的不良贷款置换为股权，此举意在帮助银行抑制正在上升的不良资产率。中国拟出台的全新的债转股方案文件，将由国务院特批，以突破商业银行法限制。

来源：http://finance.sina.com.cn/china/gncj/2016-03-10/doc-ifxqhmve9041097.shtml

Exclusive: China to allow commercial banks to swap bad debt for equity stakes in firms - sources

China's central bank is preparing regulations that would allow commercial banks to swap non-performing loans of companies for stakes in those firms, two sources with direct knowledge of the new policy told Reuters.

The sources, who spoke on condition of anonymity, said the release of a new document explaining the regulatory change was imminent.

The People's Bank of China (PBOC) did not respond to requests for comment.

On paper, the move would represent a way for indebted corporates to reduce their leverage, reducing the cost of servicing debt and making them more worthy of fresh credit.

It would also reduce NPL ratios at commercial banks, reducing the cash they would need to set aside to cover losses incurred by bad loans.

These funds could then be freed up for fresh lending for investment in the new wave of infrastructure products and factory upgrades the government hopes will rejuvenate the Chinese economy.

The sources said the new regulations would be promulgated with special approval from the State Council, China's cabinet-equivalent body, thus skirting the need to revise the current commercial bank law, which prohibits banks from investing in non-financial institutions.

In the past Chinese commercial banks usually dealt with NPLs by selling them off at a discount to state-designated asset management companies. The AMCs would turn around and attempt to recover the debt or resell it at a profit to distressed debt investors.

The sources did not have further detail about how the banks would value the new stakes, which would represent assets on their balance sheets, or what ratio or amount of NPLs they would be able to convert using this method.

Official data from the China Banking Regulatory Commission shows Chinese banks held NPLs and "special mention" troubled loans in excess of 4 trillion yuan ($614.04 billion) at the end of 2015.

source：http://www.reuters.com/article/us-china-banks-npls-exclusive-idUSKCN0WC0MD