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Moody's: North Asia banks stable
Moody's Investors Service said the industry and outlooks for the banking systems in North Asia - China, Hong Kong, Taiwan and Mongolia - are stable.
The exception is Korea, where the industry outlook is negative as liquidity management and slower economic growth will challenge the banks' management teams. Nevertheless, the outlook for Korean bank ratings is stable.
The sub-prime crisis and credit crunch have been minor issues for the region, Moody's said. Asia's sub-prime exposures have been small and the exceptionally strong level of earnings recorded for 2007 have kept losses well contained, the agency added.
Mitigating factors are serving to cushion the impact on the banks, including strong underlying growth rates, limited involvement of most regional banks in the global capital markets and healthy financial conditions, Moody's said.
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