HSBC Offers $3.9 Billion in Liquidity Relief to Hong Kong Firms
- Bank provides moratorium for some commercial and auto loans
- HSBC joins BOCHK, Bank of East Asia in easing terms amid virus
Pedestrians walk past the HSBC Holdings Plc logo displayed on a hoarding in Hong Kong, China.
Photographer: Paul Yeung/BloombergThis article is for subscribers only.
HSBC Holdings Plc is providing more than HK$30 billion ($3.9 billion) in liquidity relief to its business customers in Hong Kong, joining other lenders that are easing borrowing terms to help companies battered by the coronavirus outbreak.
Measures include a principal repayment moratorium for borrowers with commercial loans secured by property, as well as those with taxi and public minibus loans, according to a statement from the London-based bank Sunday. Trade finance customers can also apply for access to an overdraft of as much as HK$10 million for six months to help with daily operational needs, such as employee payrolls and rent.