On March 20th, the Hong Kong Monetary Authority and the Hong Kong Securities Regulatory Commission stated that they would maintain close contact with the Swiss authorities. Corporations, all companies will be open for business as usual today.
The total assets of Credit Suisse Hong Kong Branch are approximately HK$100 billion, accounting for less than 0.5% of the total assets of the Hong Kong banking industry. The local banking industry has little risk exposure to Credit Suisse.
Hong Kong’s banking system remains sound, with adequate capital and liquidity conditions.