The Hong Kong Monetary Authority (HKMA), the city’s de facto cardinal bank, said it had nary plans to found a “bad bank” to sorb troubled indebtedness successful the fiscal system, saying that the section banking assemblage remained steadfast and profitable.
“Overall, banks successful Hong Kong support a steadfast equilibrium sheet; their recognition hazard is manageable and provisions are sufficient,” the authorization said successful a connection connected Thursday. “The HKMA has nary volition to acceptable up the rumoured ‘bad bank’. We recognize that the...
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