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  1. HSBC to cut yuan deposit savings rates from today

    Posted Aug 09th 2011, 12:00am

    ... Enoch Yiu HSBC will cut its savings rate for yuan deposits to 0.25 per cent from today, down from 0.45 per cent. A bank spokesman said the cut was to move HSBC in line with the market as other banks had already made similar cuts in their yuan savings rates. Many local lenders cut their saving rates for yuan deposits in April after the People's Bank of China reduced ...

  2. Talk of higher yuan deposit rates 'untrue'

    Posted Mar 23rd 2011, 12:00am by Lulu Chen

    ... details with banks and planned to raise interest rates for yuan deposits in Hong Kong. However, HKMA spokeswoman Anissa Wong later told Bloomberg that the report suggesting the People's Bank of China would increase returns on yuan deposited in Hong Kong's clearing bank was incorrect. Several bankers told the South China Morning Post they had heard about the speculation, ...

  3. Expensive loans and loss of deposits hit smaller banks

    Posted Apr 21st 2011, 12:00am

    ... big and small are paying more for deposits than they can borrow on the interbank market is 'an anomaly', he said, noting that the banks were pursuing this strategy partly to keep their loan-deposit ratios in check. Adding to the pressure, 'many banks, especially mainland banks, have stepped up lending and funds gathering efforts in Hong Kong' in the past six months or so, ...

  4. Yuan deposits soar 402pc to hit 314.9b yuan

    Posted Feb 01st 2011, 12:00am by Lulu Chen

    ... Lulu Chen Yuan deposits soared 402 per cent to 314.9 billion yuan (HK$373.43 billion) last year, boosted by trade settlement and currency exchange, the Hong Kong Monetary Authority said. Although it did not break down the sources of yuan deposits, data from the HKMA showed cross-border trade settlement was a strong driver for yuan deposits in the city. Yuan remittance ...

  5. Steep fines to stop deposit ploy on flats

    Posted Oct 11th 2011, 12:00am

    ... Joyce Ng and Ng Kang-chung A proposed new law will punish developers with a fine of up to HK$500,000 if they receive deposits from flat buyers before announcing prices- a practice long ... deposits could be collected: three days before the sales launch when the initial price list for a development is released, or the first day of sales. 'The law will specify a clear date before ...

  6. Wealth 'loans' warp deposits

    Posted Jul 01st 2011, 12:00am

    ... Charlene Chu said. Fitch said the risks in the products were high, but credit-backed wealth management products were frequently marketed as substitutes for bank deposits, and investors commonly ... Lulu Chen lulu.chen@scmp.com Squeezed by government loan curbs, mainland banks are enticing more investors to buy high-yield wealth management products, making it difficult to quantify ...

  7. Yuan deposits could put pressure on corporate rates

    Posted Apr 06th 2011, 12:00am

    ... Monetary Authority restrictions on lending meant that banks could only lend out 70 per cent of deposits, he said. But Hong Kong dollar rates could come under greater pressure as the yuan made up a higher share of bank deposits. 'The currency mix has changed: with more yuan in bank deposits, other currencies such as Hong Kong [dollars] and US dollars have inevitably fallen ...

  8. Scramble for deposits set to push up rates

    Posted Jun 03rd 2011, 12:00am

    ... Hong Kong lenders may have to offer higher interest rates to compete for more retail deposits in order to meet the new banking norms that will be implemented from 2013. The Hong Kong ... the global financial crisis, when interbank lending virtually froze up. At present, banks in Hong Kong have to maintain a ratio of 25 per cent of liquid assets on top of deposits. Basel III requires ...

  9. Deposits are safe with us, says board

    Posted Sep 21st 2011, 12:00am

    ... Jennifer Ngo jennifer.ngo@scmp.com Hongkongers can rest assured their savings are secure, say those running a banking safety-net scheme. The Hong Kong Deposit Protection Board said ... to provide a safety net for the city's bank deposits. The board's scheme covers all 149 licensed banks and automatically covers all regular and secured deposit accounts in any currency. ...

  10. Lenders struggle to attract deposits

    Posted Nov 01st 2011, 12:00am

    ... years. About 80 per cent of 818 mainland bankers surveyed by the China Banking Association and PricewaterhouseCoopers said attracting deposits was their top priority in an environment where credit was tight and interest rates on deposits were low. Raymond Yung, PwC's financial services leader for China, said the central bank's frequent increases in reserve requirement ...




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