The fund manager asked not to be named, due to the sensitivity of the matter. The four major state banks, as well as Postal Savings Bank of China, China Merchants Bank and Industrial Bank, are the financial institutions with the biggest mortgage exposure, according to Jefferies. Banks including Agricultural Bank of China, China Construction Bank and Industrial Bank said on Thursday their mortgage books tied to uncompleted or delayed home projects were relatively small and the risk was controllable. Industrial and Commercial Bank of China Ltd, Bank of China, Postal Savings Bank of China and China Merchants did not immediately respond to requests from Reuters for comment. Share market participants said authorities should intervene early to resolve the crisis, as distressed property developers would probably be unable to resume construction in the near term due to their liquidity crunch.