Bank of East Asia survives run thanks to coordinated effort

09/26/2008 | International Herald Tribune

A coordinated effort between regulators in Hong Kong, the Bank of East Asia and Li Ka-shing, a tycoon the Hong Kong media has nicknamed "Superman", helped stop a run against the bank. Participants in the effort said several measures were quickly taken to address different potential problems. Hong Kong has years of experience dealing with bank runs and put that experience to good use in the latest situation.

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