In this episode, we discuss China’s stabilizing property sales and improving funding conditions.Then at 9:00, we look at Chinese insurers’ and banks’ exposure to the country’s property sector.Guests: Kelly Chen from the Corporate Finance Group of Moody’s Investors Service, and Qian Zhu and Yulia Wan from the Financial Institutions Group.  Host and Segment Leads: Tania Hall, Livia Yap and Danielle Reed from the Research team at Moody’s Investors Service. To read more on this topic, visit the Behind the Bonds and Focus on Finance pages on Moodys.com (some content only available to registered users or subscribers). Related Research:Chinese property market weakness will persist in 2023, dragging on credit quality in multiple sectorsFAQ about mortgage prepayment to Chinese banksFAQ on Chinese insurers' exposure to the property sector

Jerome Cheng and Tengfu Li discuss how China’s economic rebound will support residential mortgage-backed securities and a handful of Asia-Pacific banking systems with close ties to the country. Speakers: Tengfu Li, AVP – Analyst, Moody’s Investors Service; Jerome Cheng, Associate Managing Director, Moody’s Investors ServiceHosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Aaron Johnson, VP – Senior Research Writer, Moody’s Investors Service Related content on Moodys.com (may only be available to registered users or subscribers):RMBS – China: Economic rebound, low rates and policy support are positive for mortgage borrowersBanks – Asia-Pacific: China's reopening will benefit only a few banking systems in Asia-Pacific

Jill Cetina explains the main risks we are watching for US banks following recent rating actions. Plus, a cross-regional look at how central bank digital currencies could transform payments.Speakers: Melina Skouridou, VP – Senior Analyst, Moody’s Investors Service; Lucas Viegas, VP – Senior Analyst, Moody’s Investors Service; Vincent Gusdorf, SVP, Moody’s Investors Service; Jill Cetina, Associate Managing Director, Moody’s Investors ServiceHosts:  Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Myles Neligan, VP – Senior Research Writer, Moody’s Investors ServiceRelated content on Moodys.com (may only be available to registered users or subscribers):Financial Institutions – Global: FAQ: Cross-border, interoperable CBDCs could transform global paymentsFinancial Institutions – Brazil: Brazil’s central bank digital currency is the next step in its digital finance transformationBanks – US: Elevated interest rate and funding risks weaken credit strength of select US banks

Moody's analysts discuss high-profile departures from the Net Zero Insurance Alliance, plus increasing GCC bank mergers, and why Japan's largest banks can resist US banking sector stress.Speakers: Tetsuya Yamamoto, VP – Senior Credit Officer, Moody’s Investors Service; Francesca Paolino, Analyst, Moody’s Investors Service; Brandan Holmes, VP – Senior Credit Officer, Moody’s Investors Service; James Eck, VP – Senior Credit Officer, Moody’s Investors ServiceHosts: Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service; Myles Neligan, VP – Senior Research Writer, Moody’s Investors ServiceRelated content on Moodys.com (may only be available to registered users or subscribers):Banks – Middle East: More M&A activity ahead as GCC banks build scale, revenue and cost synergiesBanks – Japan: Ample liquidity backed by stable deposits will limit impact of US bank distress on large banksReinsurance — Global: Catastrophe PML disclosures show divergence in risk appetites among firmsInsurance – Cross Region: Antitrust fears weaken insurers' net zero alliance, hindering decarbonization plans

Moody’s analysts discuss accelerating electric vehicle sales’ effects on US auto insurers and auto finance captives, and implications for state fuel taxes. Speakers: Matthias Heck, VP – Senior Credit Officer, Moody’s Investors Service; Inna Bodeck, VP – Senior Analyst, Moody’s Investors Service; Jasper Cooper – VP – Senior Credit Officer, Moody’s Investors Service; Ted Hampton, VP – Senior Credit Officer, Moody’s Investors Service Hosts:Nicholas Samuels, Senior Vice President, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service Related content on Moodys.com/autotransformation (may only be available to registered users or subscribers):Electrification momentum is strong, automakers must invest to stay competitiveUS auto finance captives’ evolving portfolios will carry more electric vehicles and greater riskAuto insurers’ costs and pricing will rise as electric vehicles grow more popularElectric vehicles raise carbon transition risk for states' highway revenue bonds

Moody’s analysts discuss the rescue of Credit Suisse, and explain why some fintechs have thrived even in adversity. Also, a look at the ongoing effects of the Russia-Ukraine conflict on CIS banks.Speakers: Michael Rohr, Senior Vice President, Moody’s Investors Service; Dietmar Hornung, Associate Managing Director, Moody’s Investors Service; Vladlen Kuznetsov, AVP – Analyst, Moody’s Investors Service; Petr Paklin, AVP – Analyst, Moody’s Investors Service; Daniel Yu, VP – Senior Credit Officer, Moody’s Investors Service; Arlene Sohn, Analyst, Moody’s Investors Service; Rodrigo Marimon Bernales, Analyst, Moody’s Investors Service; David Yin, VP – Senior Credit Officer, Moody’s Investors ServiceHosts: Carolyn Henson – VP, Senior Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors ServiceRelated Research:Financial Stability – Switzerland: Low sovereign credit risks from events leading to UBS's takeover of Credit Suisse unless contagion spreadsBanks – Europe: Credit Suisse rescue and related liquidity measures protect senior bank creditors, but AT1 bondholders bear a costBanks - Commonwealth of Independent States: Ukraine invasion provides gains for some CIS banks but long-term challenges mountBanks – Australia: Challenges for new banks are increasing but opportunities to grow still remainBanking – South Korea: Expansion of Korea's virtual banks a credit negative for incumbentsBanks – Mexico: How challengers are unlocking Mexico's underserved credit market

Moody’s analysts discuss recent developments in the US and European banking systems, the implications for monetary policy and potential spillovers to emerging markets across the globe. Speakers: Donald Robertson, AMD – Financial Institutions, Moody’s Investors Service; Nick Hill, MD – Financial Institutions, Moody’s Investors Service; Eugene Tarzimanov, VP – Senior Credit Officer, Moody’s Investors Service; Scott Phillips, AMD – Global Emerging Markets, Moody’s Investors Service Hosts: Shirin Mohammadi, VP – Senior Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors Service For related research, visit the Global Banking System Outlook topic page. As financial pressures mount in a time of higher rates and slowing growth, Moody’s will continue to share our analysis of evolving trends and repercussions for banks around the world.

Moody's analysts discuss how emerging markets banks have evolved to compete with new entrants, and explain why fintechs globally are on shakier financial ground. Speakers: Stephen Tu, VP – Senior Credit Officer, Moody’s Investors Service; Alexandre Albuquerque, VP – Senior Analyst, Moody’s Investors Service; Petr Paklin, AVP – Analyst, Moody’s Investors Service; Tengfu Li, AVP – Analyst, Moody’s Investors ServiceHosts: Erin McDermott, AVP – Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors ServiceRelated Links:Banking – Global: Fintechs lose financial footing, tipping scales in favor of incumbents, for nowBanks – Emerging Markets: Incumbent banks evolve to head off new entrants

We explore this year’s outlook for crypto and digital asset firms, and check in on financial repercussions a year after Russia's seizure of leased aircraft.Speakers: Benjamin Serra, SVP, Moody’s Investors Service; Mark Wasden, SVP, Moody’s Investors Service; Jayesh Joseph, AVP – Analyst, Moody’s Investors Service; Vincent Gusdorf, SVP, Moody’s Investors Service; Alexandra Aspioti, VP – Senior Analyst, Moody’s Investors ServiceHosts: Myles Neligan, VP – Senior Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors ServiceRelated Research:Geopolitical Risks – Global: Payouts on aircraft lost in Russia pose risk to insurers but will aid lessors and lease ABSDecentralized Finance — Global: 2023 outlook: Crypto firms’ credit quality weaker, but key technologies to advanceAsset Management – Cross Region: Blockchain-enabled tokenization will boost growth in private assets

Helena Kingsley-Tomkins explains what’s behind insurance outlooks in Europe. In Fast Finance: troubles in real estate extend to Vietnam’s banks, and a look at Indian banks’ exposure to Adani Group.Speakers: Srikanth Vadlamani, VP – Senior Credit Officer, Moody’s Investors Service; Joyce Ong, AVP – Analyst, Moody’s Investors Service; Helena Kingsley-Tomkins, VP – Senior Analyst, Moody’s Investors ServiceHosts: Myles Neligan, VP – Senior Research Writer, Moody’s Investors Service; Danielle Reed, VP – Senior Research Writer, Moody’s Investors ServiceRelated Research:Risks from real estate and rising interest rates will undermine banks' credit profiles: Strong economic growth will offset strain on asset quality and profitability, supporting stable outlookBanks – India: Risks from Adani exposure are limited but can increaseInsurance – Europe: Inflation underpins negative P&C outlook, life stable on higher interest rates