Banks – China
Government support a credit driver for total loss-absorbing capacity securities
Join our analysts as they discuss the considerations relevant for the banks’ noncapital TLAC securities. Moody’s has incorporated considerable government support in the ratings of the big-4 Chinese banks’ deposits and senior unsecured debts.
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Agenda16:00 - 17:00HKT
Government support a credit driver for big-4 Chinese banks’ total loss-absorbing capacity (TLAC) securities
- How much noncapital TLAC securities do we expect the big-4 Chinese banks to issue by 2025?
- How likely will government support preempt the resolution of the big-4 banks?
- Will the probability of government support for the big-4 banks’ TLAC liabilities match that for their deposits and senior unsecured debts?
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SpeakersChen Huang Associate Managing Director, Financial Institutions Moody's Investors Service
Nicholas Zhu Vice President - Senior Credit Officer, Financial Institutions Moody's Ratings
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Chen Huang is an Associate Managing Director within Moody’s Financial Institutions Group. Based in Hong Kong, she manages teams of analysts covering the ratings and research of Asian insurers and Chinese banks. Chen joined Moody's in December 2020 as a Senior Vice President from Autonomous Research/Sanford C. Bernstein, where she primarily covered Chinese banks as a partner before moving to her most recent position as a consultant in China macrofinancial research. Previously, she worked at CLSA (now CITIC CLSA) as a senior analyst covering Chinese banks and non-bank financial institutions. Earlier in her career, she worked as a senior auditor at PricewaterhouseCoopers and had a brief stint at Caijing Magazine (now Caixin).Chen received her Master of Public Administration from Syracuse University in the U.S and Bachelor of Arts in Economics from the University of International Business and Economics in China.
Based in Beijing, Nicholas supports cross-border rating activities of Chinese banks. Previously, he was Moody’s key point of contact on the Chinese regional and local government sector.
Prior to joining Moody’s, Nicholas advised the Asian Development Bank on various China banking initiatives. He has extensive credit experience, having worked at HSBC, Standard Chartered and ANZ on a range of sectors and issues related to risk assessment for Basel II and other regulatory frameworks. Earlier in his career he was a senior economist with the World Bank.
Nicholas holds a Ph. D. in International Finance and M.A. in Economics from Georgetown University, and a B.S. in Mathematical Statistics from Sichuan University. He is also a CFA charter-holder.
Chen Huang is an Associate Managing Director within Moody’s Financial Institutions Group. Based in Hong Kong, she manages teams of analysts covering the ratings and research of Asian insurers and Chinese banks. Chen joined Moody's in December 2020 as a Senior Vice President from Autonomous Research/Sanford C. Bernstein, where she primarily covered Chinese banks as a partner before moving to her most recent position as a consultant in China macrofinancial research. Previously, she worked at CLSA (now CITIC CLSA) as a senior analyst covering Chinese banks and non-bank financial institutions. Earlier in her career, she worked as a senior auditor at PricewaterhouseCoopers and had a brief stint at Caijing Magazine (now Caixin).Chen received her Master of Public Administration from Syracuse University in the U.S and Bachelor of Arts in Economics from the University of International Business and Economics in China.
Based in Beijing, Nicholas supports cross-border rating activities of Chinese banks. Previously, he was Moody’s key point of contact on the Chinese regional and local government sector.
Prior to joining Moody’s, Nicholas advised the Asian Development Bank on various China banking initiatives. He has extensive credit experience, having worked at HSBC, Standard Chartered and ANZ on a range of sectors and issues related to risk assessment for Basel II and other regulatory frameworks. Earlier in his career he was a senior economist with the World Bank.
Nicholas holds a Ph. D. in International Finance and M.A. in Economics from Georgetown University, and a B.S. in Mathematical Statistics from Sichuan University. He is also a CFA charter-holder.