Banking News

More HK loans in negative equity

More HK loans in negative equity

(Hong Kong) - The number of Hong Kong residential mortgage loans (RMLs) in negative equity increased by around 9 percent in the last quarter of 2002, according to the Hong Kong Monetary Authority (HKMA). The HKMA released figures showing that the number of RMLs in negative equity increased to 76,686 at end-December, compared with 70,112 at end-September.

As at end-December, the total borrowings on the negative equity loans stood at HK$127 billion (US16.28 billion).
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