Reported 8 months ago
New Qing An has been accused of using straw buyers and renting out purchased properties, fueling a booming real estate market that even prompted Central Bank Governor Yang Chin-lung to warn of potential harm to banks if debts cannot be repaid. Deputy Director of Banking Bureau, Tong Cheng-chang, insists that the bank's fund flow into the public for real demand is 'normal' and assures of sufficient collateral to prevent a financial storm. However, the Financial Supervisory Commission plans to strengthen credit monitoring through 'off-site supervision and financial inspections' to ensure the bank's risk control measures are adequate in light of concerns that New Qing An could lead to inflated housing prices and a future debt crisis.
Source: YAHOO