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HKMA Eddie Yue: HK Banks Have Low Risk Exposure to Mideast Biz
Eddie Yue, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), said after a meeting of the Hong Kong Association of Banks (HKAB) that there are multiple unstable fac...
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HKMA Eddie Yue: HK Banks Have Low Risk Exposure to Mideast Biz
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Eddie Yue, Deputy Chief Executive of the Hong Kong Monetary Authority (HKMA), said after a meeting of the Hong Kong Association of Banks (HKAB) that there are multiple unstable factors around the Middle East situation recently, but Hong Kong banks currently have relatively low risk exposure to the region.

He noted that the authority is keeping close tabs on the impact of the Middle East crisis on the commercial operations and clients of Hong Kong banks. So far, no immense impact has been observed. However, soaring oil prices may heap pressure on oil price-sensitive industries such as the transportation sector.

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He added that the HKMA has communicated with the industry and hoped that banks will adopt an accommodating approach in addressing the short-term liquidity needs of affected clients to support the real economy.

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