The Banks
| Use attributes for filter ! | |
| Developers | Carter, The Dawson Company |
|---|---|
| Construction started | April 2, 2008 |
| Estimated completion | 2020 |
| Locations | Cincinnati |
| Ohio | |
| United States | |
| Status | Under construction |
| Date of Reg. | |
| Date of Upd. | |
| ID | 2975961 |
About The Banks
The Banks is the name given to the current mixed-use project being developed on the land between Paul Brown Stadium and Great American Ball Park along the Ohio River in Cincinnati, Ohio.
Could X go bankrupt under Elon Musk?
... Musk could try to renegotiate with The Banks for less onerous interest payments...
No interest rate cuts for foreseeable future, says Bank of England
... A report by the House of Lords Economic Affairs Committee released on Monday said the framework for The Banks independence had been tested by the rise in inflation and " the resulting loss of public confidence in the Bank"...
Zhongzhi Enterprise Group: China investigates major shadow bank for 'crimes'
... " Embattled property developers currently owe Chinese banks money worth as much as 30% of The Banks assets...
Interest rates: Why there is more pain still to come
... " The Banks and building societies have been very busy lowering their rates and there has been a considerable shift in pricing...
Ashling Murphy: Man sentenced to life for Irish teacher's murder
... Puska stabbed the 23-year-old 11 times in the neck as she jogged on The Banks of the Grand Canal near Tullamore, County Offaly, on 12 January 2022...
Roman Butchaski: Former Australian radio host missing in croc-infested waters
... Butchy walks The Banks up there regularly...
Banks accused of dragging their feet over fraud refunds, says MP
... " Clearly [The Banks] have got to get better and they re on the road to getting better, but it s really important that this data is out there...
Swiss village of Aarwangen in ding-dong over challenge to cowbells
... Aarwangen, population 4,700, is a charming village sitting on The Banks of the beautiful river Aare, the Bernese Alps in the distance...
Zhongzhi Enterprise Group: China investigates major shadow bank for 'crimes'
By Zarina McDonaldBBC News
Chinese officials have launched an investigation into one of the country's biggest shadow banks, which has lent billions to Real Estate firms.
Zhongzhi Enterprise Group (ZEG) has an Asset Management arm that at its peak reportedly handled More Than a trillion yuan ($139bn; £110bn).
Authorities said they are investigating " suspected illegal crimes" against The Firm , in a statement on the weekend.
This comes days after reports that ZEG had declared it was insolvent.
The struggling firm reportedly told investors in a letter last week that its liabilities - up to $64bn - had outstripped its assets, now estimated at about $38bn.
While authorities said they had taken " criminal coercive measures" against " many suspects" it's still unclear who they are, and what role they play in The Firm . The Company 's founder, Xie Zhikun, died of a Heart Attack in 2021.
ZEG is a major player in China's shadow banking industry, a term for a system of lenders, brokers and other credit intermediaries. Shadow banking, which is unregulated, is not subject to the same kinds of risk, liquidity and capital restrictions as traditional banks.
China's shadow banking industry is valued at around $3tn. It often provides a financial lifeline to the country's property sector. The once-booming industry has been hit by a severe credit crunch, with some of the biggest firms now on The Brink of financial collapse.
" For several decades China been chasing this property Bubble - and in order to create this Bubble , or to fuel growth in China, they needed capital. So they started getting a lot of money from individual investors offering very, very high returns. And it worked for quite a while because the property prices were going up and it's a win-win for everybody, " says Andrew Collier , a shadow banking expert at Orient Capital Research.
Informal lending has always existed in China's economy, but in The Aftermath of the global financial crisis in 2008, when credit was scarce.
Given China's slowing economy and The Crisis in the Real Estate sector, Mr Collier says The Troubles at ZEG may Just Be the start of a bigger problem: " This is going to spread further into other forms of shadow banks and potentially into the actual real brick-and-mortar banks. "
Embattled property developers currently owe Chinese banks money worth as much as 30% of The Banks ' assets.
" That is going to take a long time to unwind, " Mr Collier says.
The latest developments at ZEG has raised concerns of further turmoil in The World 's second-largest economy, after The Collapse of property developer and more recently the
China's property sector makes up a third of its economic output. That includes houses, rental and brokering services, as well as construction materials and industries producing goods that go into apartments.
The latest figures show that China's economy expanded By 4 . 9% in the three months between July and September. That is slower than the previous quarter, when the economy grew by 6. 3%.
Related TopicsSource of news: bbc.com