Moderately high likelihood of extraordinary government support. Long-established franchise in Hong Kong anchors business stability. Broad and healthy customer deposit base. COVID-19, low interest rates, and U.S-China tensions could raise credit costs and dampen earnings. Higher economic risk, mainly stemming from greater exposure to China following reorganization. The stable outlook reflects our expectation that Standard Chartered Bank (Hong Kong) Ltd. (SCBHK) will maintain its robust business stability, strong capitalization, healthy asset quality, and strong funding and liquidity profile over the next 18-24 months. We expect SCBHK's sound business and risk profile to help the bank offset any potential headwinds from prevailing economic uncertainties mainly stemming from the COVID-19 pandemic and trade tensions. We also anticipate that SCBHK will maintain its
