(adds Hong Kong banking regulator's statement)
HONG KONG, March 13 (Reuters) - Silicon Valley Bank
(SVB) does not operate a local banking business nor does it have
a substantial shareholding in any licensed corporation in Hong
Kong, the market's banking and securities regulators said on
Monday.
SVB only has a representative office in Hong Kong
and is not licensed to conduct lending or borrowing businesses,
the Hong Kong Monetary Authority said in a statement.
SVB is not a product issuer of any SFC-authorised funds and
retail structured products, a spokesperson for the Securities
and Futures Commission (SFC) said, after the failure of SVB
threatened to trigger a broader financial crisis.
Both regulators said they would continue to monitor the
situation.
(Reporting by Selena Li, Editing by Louise Heavens)
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