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  • November 29, 2014
  • Last updated: 5:11am
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Results 1 - 8 of 8 for bank deposits

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  1. Business - Economy - CURRENCY

    HKMA scraps 20,000 yuan daily conversion cap in landmark reform

    Posted Nov 12th 2014, 12:18pm by Enoch Yiu

    ... quantities of yuan daily since 2012. Demand for yuan ahead of the launch of the stock market "through train" has soared, forcing banks to increase deposit rates several times since September in a bidding war to secure enough funds for the scale of trade anticipated. Scrapping the conversion cap by allowing residents effectively to tap into the offshore yuan deposit pool of 1.1 ...

  2. Business - Banking & Finance - CURRENCY

    A rate too fast

    Posted Jul 04th 2013, 12:00am by Reuters

    ... flexibility to vary deposit rates. One reason that freeing up interest rates could lead to instability is that such a move would unleash fierce competition between banks for customer deposits. Markus ... as a higher-yielding alternative to traditional bank deposits, has already increased banks' liquidity risk. Wealth product funds are less "sticky" than old-fashioned deposits because investors ...

  3. Business - Money - CURRENCY

    Yuan investments

    Posted Oct 29th 2012, 12:00am by Jasper Moiseiwitsch

    ... investment product of the day is bank certificates of deposit (CDs), for which yuan rates beat Hong Kong dollar rates by a wide margin. HSBC pays 3.05 per cent for a 12-month yuan CD, versus 1.4 per ... Hong Kong banks saw a huge boom in yuan deposits following key liberalisations in 2010, but initially did not know what to do with the money. Companies did not want yuan loans, so banks could ...

  4. News - World - CURRENCY

    World's first bitcoin ATM opens in Vancouver coffee shop

    Posted Oct 30th 2013, 09:08pm by AFP

    ... ATMs as a business opportunity. "Nobody had an ATM, everyone was buying and selling on websites," said Demeter. Customers use a private key- like a bank PIN- to access their online account of bitcoins on the ATM. They withdraw cash equivalents for their bitcoins, or deposit cash bills, which are then converted into bitcoins and deposited into a virtual account. ...

  5. Business - Banking & Finance - CURRENCY

    Slowing down the yuan

    Posted May 17th 2013, 12:00am by BLOOM

    ... in order to transfer cash from abroad. Lenders on the mainland need to buy about US$57 billion to comply with new loan-to-deposit ratios for overseas currencies, Bank of America said. David ... required Chinese lenders to limit foreign-currency loans to 75 per cent of deposits by the end of June. Banks were sent into "knee-jerk" purchases of dollars for preparation to fulfil ...

  6. Business - Money - CURRENCY

    More exports can be in yuan, says economist

    Posted Nov 13th 2012, 12:00am by Eric Ng

    ... is the world's largest offshore yuan trading centre and has some 678 billion yuan in savings and time deposits in the banking system currently. London has attracted some firms to issue yuan-bonds there, ... Japan's trade settlements, US investment bank JP Morgan's chief China economist, Zhu Haibin, told the Hong Kong Management Association's annual conference yesterday that he believed ...

  7. Business - Banking & Finance - CURRENCY

    Euro stops two-year loss on Mario Draghi commitment on debt crisis

    Posted Dec 31st 2012, 12:00am by BLOOM

    ... beginning in December 2011. On July 5, the Frankfurt-based central bank cut its benchmark interest rate to a historic low of 0.75 per cent and took its deposit rate to zero. "The fact ... a two-year losing streak as European Central Bank president Mario Draghi's commitment to backstop the shared currency stymied a debt-contagion threat. In its 14th year, the 17-nation currency ...

  8. Business - Economy - CURRENCY

    A strait yuan trade deal

    Posted Nov 01st 2012, 12:00am by Ralph Jennings

    ... currencies or kept on deposit. "It's a financial service and places are interested in promoting financial services as an industry," said Tim Condon, Asia head of research with ING ... allowing each to set up a clearing bank for yuan-Taiwan dollar trades. Details are expected to emerge in coming months. Central banks on each side also are working on a swap agreement to ensure ...



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