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Commercial banks' capital adequacy ratio stood at 13.3 percent, and their provision coverage ratio neared 180 percent, both at relatively high levels, he told reporters.

Commenting on the current "chaotic and turbulent and confusing policies" coming out of the Trump administration, Kennedy said that it is a case of "profound mismanagement and failure to understand the world as it is."

Compared to conventional loans extended by a single bank, syndicated loans are often led by large banks and enjoy the advantages of dispersing loan risks, reducing peer competition and encouraging profit-sharing among lenders.

Cohen was one of Trump’s fiercest defenders, working with him on business and personal deals. He once said he would “take a bullet” for Trump. But on Wednesday, he implicated Trump in alleged federal campaign finance violations.

Combining trade and foreign direct investment, the US actually ran a surplus against China. Deutsche Bank estimated that the US aggregate sales balance had turned into a surplus against China in 2016 and 2017.