The Hong Kong and HKMA said that the Credit Capital incident did not constitute a majo

The Hong Kong Financial Administration and Securities and Futures Affairs Supervision Committee welcomed the Swiss Credit Credit Group for confirmation of the acquisition of the acquisition of the acquisition of the acquisition of the acquisition of the acquisition of Credit.

In order to prevent the crisis of confidence to threaten the global financial market, under the matchmaking of the Swiss government, the UBS group agreed to acquire competitors Creditses Group with 3 billion Swiss francs (about S $ 4.34 billion) and assume it.As high as 5.4 billion US dollars (7.2 billion yuan) of losses.

The Swiss Bank of the Swiss Bank made the above announcement on Sunday local time (March 19), and will provide UBS with 100 billion Swiss francs' liquidity assistance;Potential losses provide a guarantee of 9 billion Swiss francs.

The Hong Kong Financial Administration issued a press release on Monday (March 20) on the official website that the bureau and the Securities and Futures Affairs Supervision Committee welcomed the above -mentioned mergers and acquisitions transactions.

According to the press release, the HKMA said that Credit Suisse in Hong Kong, including a Swiss Credit Hong Kong Branch, supervised by the HKMA, and two licensed corporations supervised by the Securities Regulatory Commission. All companies were on the same day.Business as usual.Customers can continue to access deposits through the branch, as well as trading services provided by Credit Suisse to buy and sell Hong Kong stocks and derivatives.

The Financial Management Bureau said that the total assets of Hong Kong Branch of Credit Credit Bank of Switzerland were approximately HK $ 100 billion (S $ 17.1 billion), accounting for less than 0.5%of the total assets of the banking industry in Hong Kong.The risks are not great.The Hong Kong banking system remains stable and has abundant capital and liquidity.At the end of 2022, the total capital ratio of Hong Kong registration and recognition agencies was 20.1%, which was far higher than 8%of the international lowest requirements.The quarterly average liquidity coverage ratio of the first category of institutions was 162.3%in the fourth quarter of 2022, which was much higher than 100%of the legal minimum requirements.

The Financial Management Bureau also said that in addition, Credit Suisse's licensed corporation is not the top ten active brokers in the stock market and the derivative product market.As of the end of February 2023, Credit Switzerland was the ninth largest listing of structural product issuers, accounting for about 4%of the total market value of unpacking units.Overall, there is no major risk to the Hong Kong market.

The HKMA and the Securities Regulatory Commission will continue to maintain close contact with the official Swiss officials and closely monitor the operation of the financial market.