BEKAY - Amid China Evergrande turmoil PBOC to protect housing market consumers

China's central bank said it will protect consumers exposed to the housing market, though it didn't specifically name debt-laden China Evergrande (OTCPK:EGRNF) (OTCPK:EGRNY), Reuters reports, giving investors some confidence that spillover effects from the developer's liquidity crisis may be manageable. Evergrande missed an $83.5M interest payment on March 2022 bonds on Sept. 23 and is scheduled to pay a $47.5M coupon on Sept. 29. In addition to the People's Bank of China statement, the Shenzhen government started investigating Evergrande's wealth management unit, Reuters reports, citing a letter to investors — another sign that authorities may take some action to contain the fallout from the real estate developer's troubles. The local authorities also urged China Evergrande and Evergrande Wealth to repay investors, the letter said. "We expect that any impact to the banking system will be manageable and that the government will instead focus on the social fallout of unfinished housing

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Amid China Evergrande turmoil, PBOC to protect housing market consumers