HKMA cuts banks’ counter-cyclical buffers
Hong Kong’s central bank meets with lenders to increase SME funding as protests escalate
Hong Kong’s de facto central bank cut banks’ counter-cyclical capital buffers (CCyB) from 2.5% to 2% on October 14, citing a worsening economic environment in the city as political protests escalate.
“Economic indicators have signalled that the economic environment in Hong Kong has deteriorated significantly since June 2019,” Eddie Yue, chief executive of the Hong Kong Monetary Authority, said in a statement. “Lowering the counter-cyclical capital buffer at this juncture will allow banks to be
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