Chinese regulator’s Baoshang Bank takeover likely to have wide repercussions

An employee places genuine Chinese one-hundred yuan banknotes into a counting machine at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea, on Friday, July 13, 2017. Yuan is set to slide for fifth week, longest losing streak since July 2016, as escalating U.S.-China trade tensions weigh on sentiment. Photographer: SeongJoon Cho/Bloomberg

A takeover by Chinese regulators of a troubled lender with links to a missing tycoon jolted markets on Monday, lifting interbank financing costs for some smaller banks and raising worries about broader risks to the country’s financial system.

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