Asian Banks Stronger Than U.S. Banks

Asia’s banks are proving more resilient than its markets, Christian Science Monitor reports.

A decade after their own debt crisis shook the world, Asian banks have so far averted the crippling run of failures afflicting the U.S. and Europe. By staying away from risky U.S. securities, prudent lenders in Asia may even stand to benefit from the current crisis, as stricken Western banks seek fresh capital.

Asia is feeling the credit squeeze. And fears of a global recession have pummeled equity markets here, too – Tokyo’s key index was down 4.25% Monday, pushing it to the lowest level in 4-1/2 years – but none of its financial institutions have collapsed.

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