, Hong Kong
Photo from Credit Suisse website

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.” 

READ MORE: US banking fallout has little impact on APAC banks, but contagion risks linger

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 links for more news on

Join Hong Kong Business community
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!


‘Wall-less’ office tears down barriers to collaboration amongst AnyMind’s creatives
The office opens up for employees to collaborate, relax, feed off one another’s energy, and enjoy ‘happy hour’ and ‘mental space.’
Auction houses thrive on Asian millennials’ art-buying power
Millennials are seen to be particularly drawn to contemporary art as growth for Christie’s, Sotheby’s, and Phillips are highly anticipated in art hubs Hong Kong and Singapore.
Hong Kong’s livi bank launches game-changing app for SMEs
Going fully digital on opening accounts and approving quick loans to SMEs raises ‘livi Business’ disbursements to over HK$70m (US$8.9m) as of end-April.