The Hong Kong Monetary Authority is forcing the city’s banks to undergo stress tests to gauge their ability to survive a potential outflow of almost HK$700bn ($90bn) in deposits as liquidity tightens in the Chinese territory.
The de facto central bank of the Chinese territory wants commercial banks to slow lending amid concerns about rapid credit growth and soaring property prices.
One person familiar with the HKMA move said the regulator wanted to keep the banks “on their toes” to ensure they were not easing underwriting standards and were maintaining lending discipline.
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