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CBRC recommends halt on 3rd home loans

08-06-2010 14:23 BJT

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The banking regulator is recommending banks in regions with soaring property prices to suspend loans for third homes.

The regulator says down payments and lending rates for third home mortgage loans should be raised, but the specific amount should be determined by banks.

The statement was made in response to domestic reports it had ordered banks in Beijing, Shanghai, Shenzhen, and Hangzhou to stop issuing loans to third home buyers.

Editor:Xiong Qu |Source: CNTV.CN

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