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Credit Suisse has small share of Hong Kong banking sector, Hong Kong regulator says

( March 20, 2023, 02:51 GMT | Official Statement) -- MLex Summary: Credit Suisse's Hong Kong branch has about HK$100 billion ($12.7 billion) worth of assets, representing less than 0.5 percent of the total assets in the city's banking sector, the Hong Kong Monetary Authority said in a statement today. The exposures of the local banking sector to the lender are "insignificant," the city's de facto central bank said in response to UBS's acquisition of the rival lender. Credit Suisse also has exposures "not significant" to the local stock and derivatives markets, according to the statement. Credit Suisse's local branch and two companies supervised by the securities regulator will open for business today as usual, the statement added.The statement follows:...

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