March 5, 2020 / 2:13 AM / a month ago

BRIEF-Fitch Says Fed Cut Increases Revenue Hurdles For Hong Kong Banks As Virus Spreads

March 4 (Reuters) - Fitch:

* FITCH SAYS FED CUT INCREASES REVENUE HURDLES FOR HK BANKS AS VIRUS SPREADS

* FITCH SAYS HONG KONG RATE CUT IS RESULT OF CITY’S CURRENCY PEG TO US DOLLAR, BUT FITCH EXPECTS THIS TO RESULT IN GREATER REVENUE CHALLENGES FOR BANKS

* FITCH SAYS SECTOR OUTLOOK FOR HONG KONG BANKS IS NEGATIVE AS WE EXPECT LINGERING PRESSURE ON THEIR FINANCIAL PROFILES

* FITCH SAYS STABLE RATING OUTLOOK FOR HONG KONG BANKS IS SUPPORTED BY THEIR SUFFICIENT CAPITAL AND LIQUIDITY BUFFERS

* FITCH SAYS EXPECTS HONG KONG BANKS WILL NOT IMMEDIATELY FOLLOW TO REDUCE PRIME LENDING RATES IN HONG KONG Source text for Eikon:

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