HK banks now provisioning only 1.7% of their revenues for loan losses!

HK banks now provisioning only 1.7% of their revenues for loan losses!

That’s close to a record low.
Even below levels prior to the Asian Crisis!

Are HK banks accurately depicting the potential for credit losses?

Their historical average is about 12% of revenues. pic.twitter.com/kC8NtlZwjx

— Otavio (Tavi) Costa (@TaviCosta) September 3, 2019

Otavio is the man,

Long #Gold Short #Yuan HK dollars
some of his Macro trades of Century

Late MAY 2019
7:30 to 13:00 min,
'Tavi freaking nailed this…https://t.co/UFq5cQ3vK6
h/t @TaviCosta

Re: petro yawns -> @JasonEBurack @Smaulgld https://t.co/OWHeGbFYtP

— James Henry Anderson (@jameshenryand) September 3, 2019