RBA Deputy Governor Debelle addressing Evergrande issues

I posted the live link to Debelle here a few moments ago:

• RBA Dep Gov Debelle speaking now - nothing on monetary policy so far

Debelle says the Bank is spending a fair bit of its time assessing Evergrande. He expects Chinese authorities might well allow a limited default to occur, their 'tolerance' for a default is higher than in previous years as long as the consequences are limited.

Says Chinese authorities are well informed of the EV situation and it'll resolve how they (the authorities) want it to resolve.

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Sounds like the 'Lehman moment' is not going to be an issue according to Debelle. Contained (famous last words?)