“Hong Kong’s banks are well capitalized”: Nelson Man

He said there is no immediate need for Hong Kong’s banks to raise capital amidst the debt crisis in Europe.

A Bloomberg report noted, “The city’s banks have 'minimal' vulnerability to Europe, the woes of which are unlikely to have an impact on Hong Kong’s overall financial stability, Man said. Even so, the challenge would become more serious if countries such as Germany and France become engulfed in trouble, he said.”

According to Mr. Man, executive director of banking supervision at HKMA, the average capital ratio is well above the standards required by the Basel Committee on Banking Supervision.

View the report here.