Hong Kong Banks Face No Urgent Need to Raise Capital, Man Says
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Hong Kong’s banks face no urgent reasons to raise capital as a debt crisis grips Europe, said Nelson Man, executive director of banking supervision of the city’s monetary authority.
“Hong Kong’s banks are well capitalized, so there is no immediate need for Hong Kong’s banks to raise capital,” he said in an interview at a Sept. 8 symposium on Asian banking and finance held at the Federal Reserve Bank of San Francisco. The average capital ratio is “well above” the standards required by the Basel Committee on Banking Supervision, Man said.