* HSBC Mexico says credit card defaults manageable

* Bank helps delinquent clients restructure payments

* Executive says reserves exceed requirements

By Noel Randewich

MEXICO CITY, July 9 (Reuters) - HSBC Holdings PLC's (HSBA.L: Quote, Profile, Research) Mexican bank has defaults in credit card lending under control and is helping clients hurt by a deep recession restructure their monthly payments, a senior bank executive said on Thursday.

HSBC Mexico also has loan loss reserves that exceed the requirements of the country's regulator, Miguel Huller, the bank's head of consumer lending, told reporters.

"Our reserve process is much more exhaustive and conservative than our competitors'," he said. "From the viewpoint of portfolio management, we're very comfortable."

Last week, Moody's Investor Service placed the ratings of HSBC's Mexican unit under review, warning that its credit card portfolio could lead to higher-than-expected losses.

Moody's said it could downgrade HSBC Mexico's bank financial strength rating -- currently "C," considered adequate -- along with other local debt and deposit ratings.