Quake-related loans near 56 bln Yuan

Chinese banks extended nearly 56 billion yuan in loans to the quake-ravaged southwestern areas as of Tuesday noon. According to the China Banking Regulatory Commission, 85 percent of the loans were from Sichuan banks. CBRC Chairman Liu Mingkang has asked lenders to actively help the quake-hit region's rebuilding activities.

Chinese banks extended nearly 56 billion yuan in loans to the quake-ravaged southwestern areas as of Tuesday noon.

Last month, banks were told to write off timely bad loans caused by the quake if borrowers suffered huge losses that couldn't be covered by insurance or the insurance or guarantees weren't enough for the debts. The regulator also urged banks to extend the length of loans and not push for loan repayments if debtors in the quake-hit region fell behind in their payments.

According to the China Banking Regulatory Commission, 85 percent of the loans were from Sichuan banks.