EFTA00979554Set 9
2013-12-317p4,718w
bond market and other
more complicated off-balance sheet credit products to bypass tightened LGFV loan regulations. While the share of bank
loans in local government debt dropped from ... each risen to 8% of total local debt,
respectively. In addition, while the traditional LGFV loans have grown more slowly (14.5% CAGR), debt that are more
hidden (through ... reality even if on surface local debt is contained (much like how LGFV loans have slowed since 2010, but
alongside accelerating use of other types of local government debt financing
https://www.justice.gov/epstein/files/DataSet%209/EFTA00979554.pdf