🔥🔥🔥Hong Kong Monetary Authority Chief Executive Eddie Yue: Protecting the Stability of the Banking System and the Interests of Depositors
On August 13, Hong Kong Monetary Authority Chief Executive Eddie Yue stated: In fact, there is no need for everyone to worry, because the HKMA has been closely monitoring the overall sound development of the Hong Kong banking sector. We believe that the credit risk of commercial real estate loans is controllable. The exposure of Hong Kong banks to local real estate development and investment loans is mostly directed towards large local enterprises with relatively good financial conditions.
As for the risk exposure of local small and medium-sized property developers and investors, including some developers and investors with weaker financial conditions or higher debt-to-equity ratios, banks had already implemented credit risk buffering measures years ago, and most of these loans are secured by collateral.
In addition, banks do not have excessive concentration on any single borrower.
