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  • November 24, 2014
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  1. News - World - FINANCE

    Big Cyprus savers could lose 60pc

    Posted Mar 31st 2013, 12:00am by AFP

    ... is needed." Senior Bank of Cyprus official Mario Skandalis confirmed the figures. Asked whether the rate that savers with deposits of more than €100,000 will lose could be as high as 60 per cent, he ... bank face losses of up to 60 per cent, far greater than originally feared under the island's controversial European Union-led bailout plan, officials said yesterday. Lawmakers were ...

  2. Business - Banking & Finance - FINANCE

    Ex-central bank official wary of interest-rate deregulation

    Posted Sep 15th 2013, 12:00am by JANE CAI

    ... Jane Cai xuejun.cai@scmp.com Former central bank official opposes relaxing rules on yuan bank deposits in Shanghai experiment, fearing speculators could exploit this Rate deregulation ... liberalising deposit rates in the free-trade zone, because the interest gap between inside and outside the zone could lead to arbitrage," Wu said on the sidelines of a banking forum in Beijing. ...

  3. Business - Banking & Finance - FINANCE

    Online platforms emerge as new champions in lending

    Posted Apr 10th 2014, 01:01am by Adrian Wan

    ... These companies' outstanding loans stood at 13.2 trillion yuan, or about 29 per cent of all outstanding company loans. Commercial banks on the mainland offer a maximum of 3.3 per cent on one-year deposits. The People's Bank of China's benchmark deposit rate is 3 per cent and banks can offer up to 10 per cent more than the benchmark. Ma Weihua, former China Merchants Bank president, said internet ...

  4. Business - Banking & Finance - FINANCE

    Loose credit policy increases risk in China, Nomura warns

    Posted Dec 14th 2012, 12:00am by JANE CAI

    ... deposits, the trend of the rapid increase and the fact that many of the assets and liabilities reside off the balance sheets of banks should ring alarm bells, the global ratings service said. Nomura ... with more scandals like that of Huaxia Bank expected to emerge next year, a top economist at Nomura Securities said. Zhang Zhiwei, chief China economist at Nomura, said the mainland's loose ...

  5. Business - Money - FINANCE

    MPF bounces back into profit, but fails to keep pace with Hang Seng

    Posted Jan 04th 2013, 12:00am by Enoch Yiu

    ... the dismal MPF returns of late and much higher than the returns offered by bank deposits. But it fell short of the city's key stock index, the Hang Seng, which rose 23 per cent. The MPF, ... each side- into funds run by banks, insurance firms or fund companies. Bosses choose the fund provider but employees can choose which of the provider's funds they want the money ...

  6. Business - Banking & Finance - FINANCE

    Freedom on China's loan rates symbolic, analysts say

    Posted Jul 21st 2013, 12:00am by Victoria Ruan

    ... Victoria Ruan victoria.ruan@scmp.com Central bank maintains grip on deposit rates to avoid competition among banks but that also limits room to lower lending costs, analysts say Freedom ... in the long-awaited pro-consumption rebalancing." Hopes had been high among China advisers that Li would undertake a more drastic move and give banks more flexibility to price deposit rates in order ...

  7. Business - Economy - FINANCE

    Bank of Cyprus chairman quits post

    Posted Mar 27th 2013, 12:00am by AFP

    ... in the Cypriot capital Nicosia as banks stayed shut to stop a run on deposits after the island agreed a painful bailout to avert bankruptcy. Andreas Artemis complained that the government had failed ... in Brussels in Monday hits investors with deposits of over €100,000 (HK$1 million) at both Bank of Cyprus and at Laiki., the island's number two lender. Around 1,500 students marched ...

  8. News - Business - FINANCE

    Beijing reassures Hong Kong on Shanghai free-trade zone

    Posted Sep 30th 2013, 12:00am by Daniel Ren

    ... mechanism. Among details released yesterday, Liao Min, head of the China Banking Regulatory Commission's Shanghai branch, said loan-to-deposit ratios and other regulatory requirements would be adjusted, and banks in the zone could receive deposits from abroad. ...

  9. Business - Banking & Finance - FINANCE

    US regulator sues 15 banks, including HSBC, for rigging Libor benchmark

    Posted Mar 16th 2014, 05:54am by AFP

    ... Agence France-Presse in New York FDIC says interest rate manipulation caused 'substantial losses' to 38 now-closed lenders US regulator sues 15 banks for Libor rigging The US Federal Deposit Insurance Corporation (FDIC) has sued HSBC, Citigroup, Deutsche Bank and 12 other big global banks for manipulating the Libor benchmark interest rate. The manipulation caused ...

  10. Business - Banking & Finance - FINANCE

    Bitcoin value tumbles after BTC China exchange blocks renminbi deposits

    Posted Dec 18th 2013, 06:13am by DANNY LEE, Angela Meng and Amy Nip

    ... global sell-off. The blocking of deposits follows an order earlier this week from the People's Bank of China banning all transactions by third-party payment providers involving digital ... Danny Lee, Angela Meng and Amy Nip BTC among first casualties, as value of the digital currency plummets after People's Bank of China orders third-party payment providers to stop ...




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