Meanwhile, the number of new bank loans for housebuyers was 52% lower that month than a year earlier.
It has nudged up money-market interest rates and warned banks that it intends to increase its scrutiny of new bank loans.
ECONOMIST: Is the economic stimulus too much of a good thing?
Raising the rate of interest paid on excess reserves can make new bank loans less attractive, thus tempering overall credit creation.
The article said that around 682 billion yuan in new bank loans were issued in April and volume rose to 793.2 billion yuan in May.
The economy is already largely dollarised, and the new banking laws introduced on December 3rd include a requirement that all new bank loans be denominated in dollars.
They have a window of opportunity in the first months of 1999 to make the hard choices on bank recapitalization, a new central bank law, problem loans and forced consolidation.
The World Bank suspended new loans to Zimbabwe because of its failure to keep up with repayments.
The new bank would then package the loans into bonds and sell them to investors, such as pension funds.
Ecuador recently became the first country to default on its Brady bonds, which were created in the late 1980s to allow developing countries to repackage bad bank loans into new bonds backed by U.S. Treasury securities.
Regional sanctions are unlikely, but the United States may cut its bilateral aid, and block new loans from the World Bank and others.
It may mean that it averted disaster even if only a portion of the new bank liquidity is used to expand loans or purchase sovereign debt.
FORBES: Big Fed Profits Are Another Benefit Of Wise Balance-Sheet Expansion
The growth of M2 is the slowest it has been in six years less than half of what it was two years ago and central government regulators are trying to restrict new loans with periodic increases in bank reserve requirements and direct administrative measures.
FORBES: How Can China Save Europe When It's Defaulting On Its Own Debt?
In addition, the superseding indictment includes a variety of new charges against the defendants, including bank fraud charges related to both corporate and personal loans, and new tax offenses.
FORBES: Inside the Mind of Madoff: When Did Scam Really Begin?
Better-run urban collectives are finding it hard to get new credit: a mere 17% of bank loans goes to the collective sector, according to Clear Thinking, a Beijing consultancy, while state companies hog the rest.
Well the European Central Bank has just pumped an astonishing amount of new loans into the banking system.
For Spain there remains the big imponderable of whether the Spanish authorities will insure its banks against further losses on their dodgy loans or physically remove the dodgy loans and put them into a new bad bank.
But bank loans typically have a much shorter maturity, thus exposing borrowers to the risk of having to negotiate new loans at a higher cost in the future.
The new head of the central bank has also been calling in overdue loans.
The loans made by the Federal Reserve Bank of New York were at terms from six years to ten years and at competitive interest rates.
FORBES: Let's Give It Up For The Fed For A Job Well Done On Maiden Lane
But fiscal consolidation must continue: the Asian Development Bank pressed the point this week when it said that any new loans it makes will depend on this.
The affected company, Bank of Scotland Dealer Finance, will not give out any new loans after September, Lloyds said, but it will continue to serve existing customers through its Black Horse Motor Finance brand.
U.S. Bank says construction loans accounted for nearly 50% of its total new loan commitments last year, up from 15% in 2008.
After claiming for a year that the country needed to boost credit and spend its way out of the regional slump, the central bank has now done an about-face and placed restrictions on new property loans.
Bank executives say one strategy they used to get their foot in the door with new customers was increasing Citigroup's lending to REITs through credit facilities and other bank loans.
The new owners invested very heavily in Greek bonds and loans but kept it as a Cypriot bank, instead of transferring the HQ to Greece.
Proceeds from the new bank loan, the bond sales and the Fiat investment will be used to repay the government loans.
Fast-forward about a month and Pimco announces a new fund that focuses on buying the kinds of risky loans that it was trying to get Bank of America to buyback.
If Barclays hasn't, in fact, obtained or offered such loans, its new rules say it must calculate the rate on the basis of other secured loans that the bank has been involved with (i.e. loans backed by collateral).
Finally, it is worth remembering that the Bank of England and HM Treasury have announced two new schemes to provide copious amounts of cheap loans to British banks, which can be seen as insurance against the downgrades leading to any kind of renewed credit crunch (see this blog for more on all this).
The bank began by focusing on individual projects such as new highways and dams, but now it also makes loans for general improvements in economic policies.
应用推荐