In a widely anticipated move, People's Bank of China (PBOC) and China Banking Regulatory Commission (CBRC) have given the green light to two nonperforming loan securitizations for the second phase of pilot deals in the People's Republic of China.

PBOC and CBRC - joint overseers of capital markets deals by financial institutions - announced to state media agencies that China Cinda Asset Management Co. and China Orient Asset Management Co. will respectively issue deals of RMB4.75 billion ($604 million) and RMB700 million via the Interbank market.

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