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Hong Kong asks banks to report exposure to Evergrande

by Mike Robinson

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© Reuters. FILEPHOTO: An crane can be seen near China Evergrande Group’s headquarters in Shenzhen. It is located in Guangdong, China, September 26th, 2021. REUTERS/Aly Song

(Reuters) – Hong Kong’s central bank has asked lenders to report their exposure to debt-laden China Evergrande Group on concerns over potential systemic risks to the region’s financial system, Bloomberg reported on Tuesday, citing people familiar with the matter.

Bloomberg reported that Hong Kong’s Monetary Authority asked lenders to provide information on the financial commitments they made to China Evergrande Group, in both lending and derivatives. This is at most the second such inquiry by the authority in the last few months.

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