最近在香港市场里面闹得最大的风波之一就是汇丰(HSBC)受到Regulator 的 PRA(Prudential Regulation Authority)限制,被取消掉他们 Q4 的派息活动!

这让在香港不少依赖股息来生存的投资者们惨叫不断,尤其是有一位德士司机重仓买入汇丰以达到财富自由,现在可能会面临一点资金上的短缺问题了

那么问题来了,我们本地马来西亚的银行会上演这一幕吗?

为了解答这个问题,我们就要先了解 PRA 背后是谁的条例,为什么有权利让银行派息,以及马来西亚有没有相关条例的问题了。首先,PRA 是由英国央行

Bank of England 用于监督金融机构(他们对于金融机构的定义 Sibeh 广,总之碰到银行就中招就对了),确保他们提供给顾客相对于安全的产品,也就是银行顾客的守护神~至于另外一个体系,FCA(Financial Conduct Authority)则是确保银行不会 “做错事”,保护顾客们的权利

而一般上,国行在管制金融机构的条例里面都会有相关限制 Dividend(股息)的问题,比如说马来西亚

的Financial Services Act 2013(FSA)里面的Section 51 (1) & Section 51 (2) 都有提到哦!Erm,我好像跑题了

不过没关系,总之马来西亚管制金融体系的条列里面,真的可以限制 / 拒绝银行去派股息的!这背后的原因就牵扯到要维持银行的稳定性,因为银行背后也是有股东的,而股东想要的是什么?盈利,不是银行纸上的盈利,而是实际到股东口袋里的盈利(股息)~那么如果银行为了让股东开心不断的派息 + Share Buyback,银行的CAR 就会下降,就等于说是银行风险增高!不过,我去看了HSBC Q4 里面的 CIT-1 Ratio(如果你不知道这个是什么可以回去翻看我们对于 PBBANK 的分析文哦),发现他们的 CET-1 Ratio 还是很不错的,目前是 14.7%,比我们本地的一部分银行还要高啊(比如说有人叫我们分析的Alliance Bank

)总结来说,我觉得英国央行的这个动作是未雨绸缪 ,不要忘记他们也是有给顾客们延长还债的服务… BOE 这次这样做是想要保留更多资产给金融体系,这对股东短期内可能是一件坏事,但是长期来说,这个动作可以降低银行本身的风险,以及加强整体市场的稳定性!在下面我附上了公司CEO – Noel Quinn 给大家的信件,有兴趣的可以看下去哟

A message to HSBC’s Hong Kong investorsDear Shareholder, You will have seen reports in the media that HSBC, in line with all other large UK-based banks and at the direct request of the Group’s lead regulator (the UK Prudential Regulation Authority), has cancelled the fourth interim dividend of 2019. We have also suspended dividend payments until the end of 2020. We profoundly regret the impact this will have on you, your families and your businesses. We are acutely aware of how important the dividend is to our shareholders in Hong Kong. We deeply value your support as a shareholder and we never take that for granted. There is a great deal of economic uncertainty globally due to the efforts to contain the spread of COVID-19. The action we have taken reflects the view of our lead regulator that extra prudence is needed in these unprecedented times, so that banks can help support their customers both now and over the long-term. It is important for you to know that our performance in 2020 so far has been resilient and that HSBC has a strong capital and liquidity position. The Board will review our stance on dividends once the economic impact of the pandemic is better understood. We are working hard to help our customers and communities in Hong Kong and are constantly reviewing and updating our support packages. We have already introduced special relief loans for customers in sectors affected by the outbreak, offered deferrals on principal mortgage repayments for customers experiencing hardship, and unveiled measures to provide more than HK$30 billion in immediate liquidity relief for businesses facing market uncertainty and supply chain disruption. Our strong capitalisation, funding and liquidity will help us to continue to support our customers. We remain deeply committed to supporting people and businesses in Hong Kong. Thank you sincerely for your ongoing support.=======

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