HKMA counters rumours third-largest lender unsound

The Hong Kong Monetary Authority (HKMA) on Wednesday moved to placate fears that the Bank of East Asia, the territory's third-largest lender, is in trouble.

"Bank of East Asia's capital adequacy and liquidity ratios are well above regulatory requirements," a spokesperson for the authority said. The territory's banking system was "safe and sound" with institutions "well capitalised and highly liquid."

The authority added that it had "well established mechanisms, such as the discount window and

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