The Hong Kong Monetary Authority (HKMA) has issued guidelines to banks on adjusting countercyclical macroprudential measures for property mortgage loans. The HKMA has been monitoring property market conditions since implementing these measures in 2009, and due to the COVID-19 pandemic and rising interest rates, has adjusted the maximum loan-to-value (LTV) ratios for residential and non-residential properties. The adjustments include increasing the maximum LTV ratio for non-residential properties from 50% to 60% and gradually adjusting LTV ratios for residential properties valued at HK$15 million or below. The HKMA will continue to monitor market developments closely and introduce measures as necessary to safeguard banking stability.
Circular: https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2023/20230707e1.pdf
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/07/20230707-4/