Avoid short-term ‘euphoria’ of excessive leveraging: HKMA’s Chan


Norman Chan, the chief executive of the Hong Kong Monetary Authority on Friday said excessive leveraging was the "root cause" of the financial crisis.

Speaking at The Economic Summit 2012: Roadmap to Hong Kong Success on Friday, Chan said households, companies and governments alike must avoid excessive leverage or borrowing. "This may be easier said than done as leveraging can bring transient prosperity and euphoria to everyone," he said. Nevertheless, to avoid the "pains" of de-leveraging in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: