Drought assistance funding doubles low-interest loan cap to $2 million – ABC Local

The Federal Government has doubled the amount of money available for low-interest loans to help drought-stricken farmers. Drought package Aug 19 Key points Major General Stephen Day appointed National Drought Coordinator $75m to 60 councils for infrastructure Fodder storage depreciation initiative The move increases the loan allocation to $2 million and is among a raft…

China orders bad debt managers to help failing P2P lenders – Financial Times

Chinas banking regulator has instructed the countrys four state-owned bad loan managers to deal with failing peer-to-peer lending platforms, a sign of Beijings concern about possible financial and social instability from the shadow banking sector. Hundreds of P2P platforms have collapsed in recent months due to borrower defaults and fraud by platform operators. The defaults…