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  • November 28, 2014
  • Last updated: 8:32pm
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  1. News - World - EUROPEAN DEBT CRISIS

    Cypriots shocked as euro bail out includes 10pc tax on bank accounts

    Posted Mar 17th 2013, 12:00am by AGENCIES

    ... on savings Residents of Cyprus reacted with shock yesterday after the government agreed to a €10 billion (HK$101 billion) bailout that includes an unprecedented levy on all bank deposits. The debt ... €5.8 billion to be raised through the bank deposit levy of up to 9.9 per cent, which will apply to everyone from pensioners to Russian oligarchs and tens of thousands of British expats. ...

  2. Business - Banking & Finance - BANKING

    Mainland China banking regulator to ease loan-to-deposit ratio

    Posted Jul 01st 2014, 04:05am by DON WEINLAND

    ... Don Weinland don.weinland@scmp.com Mainland regulator to ease loan-deposit ratio The mainland's banking regulator will relax how it calculates its loan-deposit ratio, tiptoeing around more arduous changes to the banking law while delivering a light boost to the economy. Starting tomorrow, the China Banking Regulatory Commission will remove three types of loans from ...

  3. Business - Banking & Finance - BANKING

    China's rural bank struggles to attract deposits

    Posted Nov 25th 2013, 03:52am by JANE CAI

    ... Jane Cai in Qichun, Hubei xuejun.cai@scmp.com BOC Fullerton cites lack of working-age people in county, but urbanisation may lift hopes Mainland rural bank struggles to attract deposits ... the lender was one of 1,000 rural bank outlets across the country set up since 2007 in response to Beijing's call to serve farmers and rural areas. A lack of deposits is a problem shared by many ...

  4. Calls widen for rise in deposit insurance cap

    Posted Oct 06th 2008, 12:00am by Staff Reporter

    ... Maria Chan Bank depositors are likely to join a clamour for an increase in the HK$100,000 ceiling in Hong Kong's deposit insurance scheme following last month's run on the Bank ... of depositors who want to withdraw their money from banks due to such unfounded rumours,' said Sin Chung-kai, a vice-chairman of the Democratic Party. The deposit protection scheme, launched ...

  5. Banking on time deposits

    Posted Sep 23rd 2008, 12:00am by Staff Reporter

    ... deposit and withdraw is not cash, but time. Based on a concept first raised in the US in the 1980s, TimeBank is an innovative form of volunteerism based on the structure of a commercial bank. Bank ... to cope with chaos. But there will always be winners amid such despair- and Mashi Blech might be one of them. Ms Blech runs two bank branches in New York, with the first opening at the end of 2006 ...

  6. Banker pilfered account to pay for hair treatment

    Posted Apr 26th 2007, 12:00am by Staff Reporter

    ... Chandra Wong A bank assistant stole from a customer's account to pay for expensive anti-baldness treatment because he was terrified of losing his hair, a court heard yesterday. Alex Chan Choi-kei, who appeared in Eastern Court with a full head of hair, pleaded guilty to stealing more than HK$355,000 from the account at the DBS Bank. Remanding him in custody until May 17 ...

  7. Hong Kong banks cut lending, deposit rates

    Posted Nov 08th 2006, 12:00am by Staff Reporter

    ... mortgage lenders. At least 15 banks, also including DBS Bank (HK), Wing Hang Bank, and Citibank, yesterday announced a reduction in the prime rate and savings deposit rate by the same margin. HSBC ... with that of HSBC and Bank of China (HK) while most rivals reduced their prime rate to 8 per cent from 8.25 per cent. The savings deposit rates of most lenders stand at 2 per cent to 2.75 per cent ...

  8. Business - Banking & Finance - BANKING

    Hong Kong banks vie for edge in yuan deposits with high rates

    Posted Apr 09th 2014, 11:14am by KANIS LI

    ... in yuan deposits with high rates Hong Kong banks are stepping up efforts in the battle for yuan deposits with high interest rate promotions in the currency, which has fallen the most among Asian units this year. The banks include HSBC, DBS, Wing Hang Bank and China Citic Bank International. HSBC is offering one-month deposits at 3.8 per cent per year, the highest among the lenders. ...

  9. Business - Economy - JAKE'S VIEW

    Rate cuts may put China on road to debasing currency

    Posted Nov 27th 2014, 04:39am by Jake Van Der Kamp

    ... points and deposit rates by only 25 would further squeeze bank margins. But, hey, that's the big banks. It is their turn for once. They can take it. Yes, they can, but not forever, ... Jake van der Kamp Move by the central bank does the health of the country's financial system no good by debasing the currency to sustain high growth China plays with fire in cutting ...

  10. Lenders puzzle over protection rule for deposits

    Posted Aug 29th 2005, 12:00am by Staff Reporter

    ... Kong). But now banks, their customers and the industry regulator are left to puzzle over the question: 'Are those new products that became so popular deposits or investments?' ... to generalise whether structured deposits are deposits or investments. I would suggest banks seek legal advice case by case,' he said. However, banks are uncomfortable with this uncertainty, ...




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