The Bank of Japan can hold off on expanding monetary stimulus if market turbulence caused by Britain’s vote to leave the European Union proves temporary, a former central bank executive said on Monday, the Irish Times reported. But Japan has the right to intervene in markets to stem sharp yen rises based on a shared understanding among G7 and G20 nations that excessive currency moves are undesirable, said Kazuo Momma, who was the BOJ’s executive director overseeing international affairs until May.

China's Baosteel Group and Wuhan Iron and Steel Group, two of the country's largest steelmakers, are together planning to restructure, their listed units said in separate stock exchange filings on Sunday, Reuters reported. Baosteel Group is China's second-largest steelmaker, and Wuhan Iron and Steel Group is the country's fourth-largest. The companies did not specify what the restructuring would entail. Beijing has said that mergers would be a key way to consolidate the steel sector, aiming to cut overcapacity and increase the proportion of output from China's ten biggest mills.

In the imprecise science of divining China’s banking health, the fine print is sometimes worth a closer look than the final statistic. This week, the McKinsey Global Institute published a new estimate of China’s nonperforming loan ratio, measuring it at 7% as of last year. The indicator shows bad debt as a percentage of the total loan book, and is the most basic brush stroke in an analysis of China’s economic state. McKinsey ventured that this portion could rise to 15% in 2019 if China fails to change its investment-heavy approach to economic development.

Chinese officials hit back at critics of the country’s mounting debt pile on Thursday, saying the country’s banks had taken measures to ensure non-performing loans would not pose a systemic risk to China’s financial system, the Financial Times reported. “China’s banking sector is generally stable and risks are under control,” Wang Shengbang, a senior official with the country’s banking regulator, said at a briefing.

China is renegotiating billions of dollars of loans to Venezuela and has met with the country’s political opposition, marking a shift in its approach to a nation it once viewed as a US counterweight in the Americas. Venezuela is facing one of the worst crises of its 200-year history, with a collapsing economy and political deadlock stoked by the oil price slump. China, which is Caracas’s biggest creditor and has loaned the country $65bn since 2005, has already extended the repayment schedules for debts backed by oil sales.

Rolta India Ltd bondholders are forming a group to negotiate a debt restructuring after the software services provider failed to make interest payments, according to a document seen by Reuters on Friday. Rolta, whose biggest customer is the Indian government, said late on Friday its management was working on "addressing the overall situation in a comprehensive manner", blaming the cash crunch on significant expenses on a defence project and delays in payment collections.

Whether crisis-ridden Venezuela will default is a question increasingly on the minds of bond traders. It’s now also one that is getting front-page treatment from China, one of the Latin American country’s biggest financial backers, Bloomberg News reported. On June 11, the People’s Daily -- the mouthpiece paper of China’s Communist Party -- published an article in its overseas edition with the headline “Will Venezuela Default?” After considering its willingness and ability to pay, the author concludes the answer is no and chalks up all the talk about default to media speculation.

South Korea is overhauling its capital controls, making it easier to tap overseas markets in a partial reversal of its battle against hot money inflows since the global financial crisis, the Financial Times reported. The move reflects fears that the banking system would struggle were money to suddenly flow out as US interest rates rise. The action, announced jointly by the finance ministry and regulators, came hours after Federal Reserve chair Janet Yellen kept alive the prospect of another US rate rise in the coming months.

China's Bohai Steel Group said it had paid the coupon on its yuan-denominated bonds, which was due on Wednesday, and gave assurance that it had sufficient funds to pay the coupon on dollar bonds due for payment on June 17. The 6.4 percent coupon is on its 1.5 billion yuan bond . China's steelmakers are in the eye of a storm as Beijing moves to slim down bloated industries, including steel and coal, to make the economy more efficient and address a supply glut that has hammered coal and steel prices.

The Reserve Bank of India's (RBI) new restructuring tool unveiled on Monday will raise banks' moral hazard risk because the high debt of these over-leveraged companies means their market capitalisation does not match the haircuts banks are likely to take, the Economic Times reported. Under a new 'Scheme for Sustainable Structuring of Stressed Assets' (S4A), RBI allowed banks to take equity in debt laden firms permitting them to split total loans of struggling companies into sustainable and unsustainable based on the cash flows of the projects.