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  • September 20, 2014
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  1. Less than zero: how deposit rates could turn negative

    Posted Dec 16th 2008, 12:00am by Tom Holland

    ... at least, Hong Kong's interest rates could even drop below zero. In practical terms, that means the city's banks would begin charging us for depositing our money. Happily, the probability ... against overheating and inflation caused by heavy fund inflows. Among the measures designed to encourage funds to flow out again was a charge on bank deposits of more than HK$1 million: ...

  2. Nervous banks squeeze yoga centres' funds

    Posted Jan 17th 2011, 12:00am by Amy Nip

    ... months has made banks lose faith in yoga centres and other service industries. They are demanding large security deposits, or collateral, from such businesses- to compensate customers who pay fees in advance using the banks' credit cards, should the businesses close down. Yet yoga industry veterans warn that these security deposits are causing a vicious cycle ...

  3. Treasured items ended up on this scrapheap for a mere $2,550

    Posted Oct 07th 2004, 12:00am by Staff Reporter

    ... Robin Kwong The 83 mistakenly destroyed safe deposit boxes- which could now end up costing DBS Bank millions in compensation- were originally sold to a scrap metal company in a deal worth a mere $2,550. The Xun Xiang Metalware Company, in Cha Kwo Ling, bought a total of 920 safe deposit boxes, weighing a total of 1.7 tonnes, on Saturday afternoon for $1,500 per tonne. 'Our ...

  4. Bank staff paying the price after millions disappear

    Posted Apr 20th 2005, 12:00am by Celine Sun

    ... Celine Sun At least 13 employees of a Bank of China sub-branch in Heilongjiang have been fired or relieved of their duties since the bank reported the theft of millions of yuan in deposits by its manager early this year. Bank of China spokesman Wang Zhaowen was yesterday quoted by the Beijing Youth Daily as saying that Gao Shan, manager of the Hesong St sub-branch in Harbin, ...

  5. BOCHK closes 10 more banks

    Posted Jul 22nd 2003, 12:00am by Christine Chan

    ... banking group yesterday announced it would issue HK$500 million worth of certificates of deposit (CD) targeting retail customers - the first time the bank has issued such a debt instrument. ... BOC Hong Kong (Holdings) has closed more than 10 bank branches in the first half of the year, bringing to more than 40 the total shut since the group's 2001 merger, deputy chief ...

  6. Stanley residents want bank to stay

    Posted Oct 23rd 2009, 12:00am by Celine Sun

    ... Kit-yin, 74, said many elderly people such as himself relied on the bank to take out or deposit money, cash cheques and get the monthly 'fruit money' granted by the government. 'If ... Celine Sun Stanley residents fear a renovation project at Stanley Plaza will force the only bank in the district to move out. About 100 residents gathered at the Stanley community hall ...

  7. Capital injection likely to boost credit rating of Agricultural Bank

    Posted Oct 25th 2008, 12:00am by Staff Reporter

    ... is currently rated 'E' by Moody's, the second-lowest level. The action does not affect the bank's A1/Prime-1 foreign currency deposit ratings, which maintain their stable outlook. ... Jane Cai Agricultural Bank of China, the mainland's third-largest lender, may earn a higher credit rating from Moody's Investors Service after receiving a US$19 billion capital ...

  8. Skills, not Basel rules, the issue for banks

    Posted Sep 16th 2010, 12:00am by Staff Reporter

    ... Mainland banks were virtually unscathed by the global financial crisis, but they are ill-prepared to take advantage of the opportunity created by new global capital reserve requirements, according to a partner with a leading global business consultancy. Their limited exposure to international markets insulated mainland banks from the ravages of the crisis and they have recently ...

  9. Bank customers stage overnight vigil

    Posted Sep 25th 2008, 12:00am by Ambrose Leung, Barclay Crawford, Danny Mok, Peter So

    ... for the doors to open this morning so they could withdraw their deposits amid panic over rumours- condemned as unfounded by the government and the bank- that BEA was in trouble. At midnight, about 100 ... is safer than hard cash in my pocket,' said one woman at the Caine Road, Mid-Levels, branch of the bank, who wanted to get her hands on a HK$100,000 time deposit, despite admitting she did ...

  10. Agricultural Bank cleared to restructure

    Posted Oct 22nd 2008, 12:00am by Staff Reporter

    ... sovereign wealth fund, might inject US$19 billion in cash for a 50 per cent stake in the lender. At the end of last year, Agricultural Bank had 5.28 trillion yuan in deposits and 3.48 trillion yuan ... Jane Cai and Adam Chen in Beijing The State Council yesterday approved a long-awaited proposal to restructure Agricultural Bank of China into a shareholder-based company, paving the way ...




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