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  • September 21, 2014
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  1. Please pass the buck and carry a soft stick

    Posted Oct 10th 2003, 12:00am by Jake Van Der Kamp

    ... YEARS AGO, WHILE working in the stockbroking arm of a local bank that had just appointed a new managing director, I happened to be sitting near the stage at the bank's annual dinner, a big banquet with at least 50 tables. One of the features of the night was the Miss --- ---- Bank Contest with three shows, evening wear, swimwear and casual wear (I shall not give you ...

  2. Tang presses for renminbi deposits

    Posted Aug 30th 2003, 12:00am by Gary Cheung

    ... He seeks channel for exchanging yuan circulating in HK Financial Secretary Henry Tang Ying-yen has urged mainland officials to allow Hong Kong banks to offer renminbi deposit and exchange services as soon as possible. Speaking at the end of his first working visit to Beijing as finance chief, Mr Tang said allowing renminbi deposit-taking, remittances, exchange and credit card ...

  3. HKMA rejects inflation-linked protection

    Posted Sep 18th 2003, 12:00am by Enoch Yiu

    ... The Hong Kong Monetary Authority (HKMA) has rejected a proposal by legislators to link bank deposit insurance coverage to inflation or economic growth. Bank customers would receive up to HK$100,000 each in deposit protection should their bank collapse under a plan being considered to start in 2005. Legislators yesterday called on the government to consider a system of adjusting ...

  4. PBOC wants lenders to have more scope in setting rates

    Posted Nov 19th 2003, 12:00am by Christine Chan

    ... in setting interest rates for loans and deposits to strengthen their risk-management skills and improve the nation's banking system. The People's Bank of China (PBOC) fixes yuan deposit rates while allowing banks a small degree of flexibility in determining loan rates. Rates for foreign currency deposits are largely liberalised. The greater flexibility should permit banks ...

  5. Central Bank governor in HK next week

    Posted Sep 09th 2003, 12:00am by Gary Cheung

    ... The central bank governor will meet monetary regulators in Hong Kong next week amid heated discussions on introducing renminbi deposit-taking services in the city. A spokesman for the Hong ... Tang Ying-yen urged central government officials to allow Hong Kong banks to offer as soon as possible services covering deposits, exchange, remittances and credit cards in yuan. He said ...

  6. Soaring property loans trigger central bank warning

    Posted Oct 28th 2003, 12:00am by Staff Reporter

    ... banks' total medium and long-term loans, up 18 percentage points compared to the end of 1997, Xinhua reported, citing a quarterly report from the People's Bank of China. Fixed deposits ... that commercial banks have been taking short-term deposits and giving long-term loans, creating systemic credit risks for the banking system. The report noted that outstanding property-related loans ...

  7. Doubts linger over HK banks' access to yuan services

    Posted Aug 02nd 2003, 12:00am by Enoch Yiu

    ... be a problem for banks in terms of what they can do with the yuan deposits they take.' He said if banks were not allowed to conduct yuan lending, including mortgages, to earn interest income, ... Local banks still have plenty of questions about the proposed opening of yuan business despite a meeting with a senior Hong Kong Monetary Authority official yesterday. A HKMA spokesman ...

  8. NPC looks at lifting firewall to boost looming competition

    Posted Aug 06th 2003, 12:00am by Staff Reporter

    ... be magnified because regulators are not yet ready to supervise complicated companies.' Mr Ma is also proposing a deposit insurance programme. At present, the nation's banks do not offer a guarantee on the safekeeping of deposits. The only assurance depositors have is that the government, in principle, will not allow a bank to go under. 'Starting an insurance programme ...

  9. Low rates fail to lift loans

    Posted Aug 30th 2003, 12:00am by Enoch Yiu

    ... The low interest rate environment has failed to entice bank customers to withdraw their money, with the latest figures from the Hong Kong Monetary Authority showing deposits had increased for the fourth consecutive month. Lending demands continued to shrink last month, according to statistics released by the HKMA yesterday. Total bank deposits rose to HK$3.37 trillion last month, up 0.6 ...

  10. HK banks near yuan trade

    Posted Jul 26th 2003, 12:00am by Raymond Ma

    ... for the proposals' implementation. Hong Kong banks had not been allowed to accept yuan deposits or engage in yuan business outside China. The mainland government also imposes strict controls on the country's capital accounts. Therefore, a key issue that would need to be solved is how yuan deposits in Hong Kong banks would be remitted to China. At the moment, this is handled mostly through ...




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