China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

The truth about Asian investment banking

September 1996

Risk management's final frontier


Banks measure credit and market risk because they can, not because these are the biggest risks they face. Operational risk is larger, more dangerous and no-one knows exactly what to do about it. Mark Parsley looks at banks' first faltering steps in this area


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