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Stock impact report

INSIGHT-In China, stocks-for-loans under stress as markets slide [Reuters]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Reuters
* Sharp rise in stock-collateralised loans * Shares pledged by stockholders when prices were high * Falling markets raise risk of margin calls * Analysts warn of risk of broader financial instability By Samuel Shen and Engen Tham SHANGHAI, June 9 A sharp drop in mainlysmall-cap Chinese stock prices has exposed a new and potentiallydestabilising pocket of leverage in the world's second-largesteconomy. The value of shares that shareholders have pledged ascollateral to borrow money, mainly from brokerages, hasquadrupled over two years to more than 6 trillion yuan ($898billion), or a tenth of the total value of China's stock market,according to estimates from Bank of America Merrill Lynch andBOCOM International. For small-caps and start-ups, the proportion of pledgedshares is higher, making up almost a fifth of companies'combined market value - or nearly $400 billion as of end-2016.Across the rest of China's stock markets, stock-collateralisedloans account for Show less Read more
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