PBoC in finance ministry talks for capital: report

The People's Bank of China is in talks with the country's finance ministry to shore up its capital base, the New York Times, a newspaper, said Friday.

The newspaper said that it had spoken to three unnamed officials familiar with the discussions, which had been called because the central bank allegedly has a capital base of just $3.2 billion after spending about $1 billion on US Treasuries and US agency debt [Fannie Mae, Freddie Mac and Federal Home Loan Bank paper] over the past seven years.

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