HK banking system 'resilient’ amidst the Credit Suisse fallout

HKMA and SFC are closely monitoring the situation.

Hong Kong’s Chief Executive John Lee assured that Hong Kong’s banking system is “resilient and properly regulated” in response to questions from reporters regarding UBS’ takeover of Credit Suisse.

The chief executive made this statement before the Executive Council meeting..

According to Lee, the size of the bank’s business and its assets under management in Hong Kong are “relatively small.”

He added that the city’s banking sector is “operating smoothly and normally,” and the market liquidity remains abundant.

“Both the Hong Kong Monetary Authority and the Securities and Futures Commission are monitoring the situation closely. We will be managing the risks,” Lee said.

Lee also assured that the Credit Suisse fallout would not significantly affect Hong Kong and added that the adequacy and liquidity of its financial and banking sectors are “very healthy and abundant to be able to handle the pressure in the market.”

Follow the link s for more news on

Credit Suisse

Hong Kong Monetary Authority

Securities and Futures Commission

UBS

Also Read

Hong Kong to rename ‘virtual banks’ to ‘digital banks’

Hang Seng bank declares third interim dividend of HK$1.2 per share

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit