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HKMA Arthur Yuen Hopes Banks Will Reasonably Handle Mortgages of Dismissed Employees
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HANG SENG BANK (00011.HK) is dismissing employees, according to recent hearsay. When asked about the handling of mortgages taken out by laid-off HSB employees under employee preferential terms, Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority (HKMA), responded that he hopes the bank will reasonably consider the actual financial situation of such employees during the dismissal process. Regarding whether this might lead to issues with these employees' mortgages not meeting the macro-prudential measures initially required by regulators, Yuen considered that the market need not worry. He mentioned that banks had previously consulted the HKMA about the situations, and the HKMA responded that these are special circumstances and will flexibly consider the banks' handling plans, so the market need not worry. AASTOCKS Financial News Website: www.aastocks.com |
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