HKMA tightens restrictions on bank loans as risks rise
The city’s de facto central bank is trying to contain credit risk among banks as their exposure to housing developers is growing
The Hong Kong Monetary Authority (HKMA) has announced tighter limits on bank loans to property developers, as property prices and accompanying risks soar.
The HKMA said some property developers borrowed heavily to finance their land acquisition and development projects. In a few cases, land purchases are financed entirely through borrowing from different banks. “The extension of construction financing to these property developers may expose authorised institutions [banks] to a substantially
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