May 2020 - Improving your impairment operating model
The Hong Kong economy has been operating amid strong external and domestic headwinds in recent years. Downside factors that forced Hong Kong into its first recession in a decade in 2019 include the initiation of the US-China Trade war in July 2018, the domestic social unrest surrounding the possible passage of an extradition law in Hong Kong starting from June 2019, and the global Covid-19 outbreak in January 2020.
To avoid accumulating non performing loans and preserve their financial health in the longer term, banks need to ensure they maintain a robust credit risk framework to identify, monitor, measure and report credit risk.
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