Central Banking

HKMA call on banks to tighten credit card policies

HONG KONG - Hong Kong's central bank today 15 August called on the city's banks to tighten up their policies for issuing credit cards in an effort to combat an increasing incidence of bankruptcy.

His comments came in the wake of a sharp increase in bankruptcies in Hong Kong, as well as a rise in the delinquency ratio for credit cards in the three months ended 30 June.

Hong Kong Monetary Authority Deputy Chief Executive David Carse said the credit situation in Hong Kong has deteriorated over the

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