Taking the slow road



With Chinese banks flush with cash, the desire to securitise will be driven by balance-sheet requirements in the short run. While that should be good news for issuances of collateralised debt obligations (CDOs), market participants say activity will remain slow until Chinese regulators facilitate the approval process.

In late 2005, policy bank China Development Bank (CDB) completed a 4.2 billion renminbi ($524 million) infrastructure loans collateralised loan obligation (CLO), one of its two

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