余伟文：香港商业房产贷款信贷风险可控 设立“坏帐银行”不符银行稳健情况

Core Viewpoint - The Hong Kong Monetary Authority (HKMA) is closely monitoring the banking sector's stability, particularly regarding commercial real estate loans, which are under pressure due to rising interest rates and changing market conditions [1][2][3] Group 1: Loan Classification and Risk Management - The specific classified loan ratio for Hong Kong banks at the end of Q2 was 1.97%, showing slight pressure for an increase compared to 1.98% at the end of March [1] - The HKMA believes that the credit risk associated with commercial real estate loans is manageable, with most exposure directed towards financially stable large local enterprises [2][3] - Banks have implemented credit risk mitigation measures for small and medium-sized developers and investors, ensuring that most loans are secured by collateral [2] Group 2: Market Conditions and Loan Valuation - Commercial real estate prices and rents are under pressure due to interest rates and market supply-demand dynamics, leading to concerns about the value of collateral and potential immediate repayment requests from banks [2] - The HKMA and the banking sector emphasize that loan assessments will consider a range of factors beyond just the value of collateral, including the borrower's financial situation and repayment ability [2] - The specific classified loan ratio has increased from 0.89% at the end of 2021 to around 2%, still significantly lower than the 7.43% observed during the Asian financial crisis in 1999 [3] Group 3: Financial Health of the Banking Sector - The banking sector in Hong Kong is characterized by strong capital adequacy, sufficient provisions, and robust financial health to withstand market fluctuations [3] - The concept of "expected credit loss" used in accounting does not equate to bad debts and should not be the sole measure of a bank's asset quality [3] - The idea of establishing a "bad bank" is deemed unnecessary given the current strong financial position of Hong Kong banks [3]