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  • October 2, 2014
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  1. Bank deposit protection not the whole answer

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

    ... Deposit protection for Hong Kong bank customers followed the 1998 Asian financial crisis. No locally licensed banks failed then, though we might never know how close any came. The Hong Kong Monetary Authority backed the idea, but it so bitterly divided banks that it was not introduced until 2006. Now, just two years later, pressure is building to raise the cap on our deposit ...

    http://www.scmp.com/article/655188/bank-deposit-protection-not-whole-answer
  2. Business - Banking & Finance - BANKING

    Rising rents see banks reluctant to offer safe deposit boxes

    Posted Sep 17th 2012, 12:00am by Enoch Yiu

    ... cost of real estate makes banks reluctant to expand the service. A banker, who declined to be named, said banks did not want to install more safe deposit boxes as it was not a profitable business. "The rent in Hong Kong is so high that bank branch areas are very valuable," the banker said. "Deposit boxes take up a lot of space, so this is a type of business ...

    http://www.scmp.com/business/banking-finance/article/1038682/rising-rents-see-banks-reluctant-offer-safe-deposit-boxes
  3. Business - Banking & Finance

    Banks need a deposit protection scheme

    Posted Sep 01st 2012, 12:00am by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Bank chairman makes remarks amid fears of deteriorating asset quality of lenders Banks need a deposit protection scheme The mainland needs to establish a deposit insurance system as it liberalises its interest rate regime, Bank of Shanghai chairman Fan Yifan said yesterday. The remarks by Fan, who is also a vice-president ...

    http://www.scmp.com/business/banking-finance/article/1027327/banks-need-deposit-protection-scheme
  4. 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 ...

    http://www.scmp.com/article/975760/hsbc-cut-yuan-deposit-savings-rates-today
  5. Business - Banking & Finance - BANKING

    China's banks slash deposit rates as companies hoard US dollars

    Posted Aug 31st 2012, 12:00am by Bloomberg

    ... Bloomberg Loss of confidence in yuan's appreciation leads mainland companies to accumulate greenbacks As firms hoard US dollars, lenders slash deposit rates China's biggest banks are cutting US dollar deposit rates as the most bearish outlook for the yuan since 2009 prompts mainland companies to hoard the greenback. Industrial and Commercial Bank of China cut its one-year ...

    http://www.scmp.com/business/banking-finance/article/1026542/chinas-banks-slash-deposit-rates-companies-hoard-us-dollars
  6. Business - Economy - COMMENT

    Carry trades get a fresh boost from ECB's loose monetary policy

    Posted Sep 06th 2014, 05:37am by Reuters

    ... the uncertainty around the European Central Bank's extraordinary monetary policy, one thing is for sure: it'll be good for carry trades. If an asset has a higher yield than euro-denominated ... but the fun hardly stops there. The ECB on Thursday made a series of moves to react to weakening growth in the euro zone. Three policy rates were cut by 10 basis points, leaving the deposit facility ...

    http://www.scmp.com/business/economy/article/1586212/carry-trades-get-fresh-boost-ecbs-loose-monetary-policy
  7. Business - Banking & Finance

    Chinese banks call for cap on online interest rates

    Posted Feb 28th 2014, 01:10am by Reuters

    ... Reuters in Beijing and Shanghai Lobbying comes as online products drain cash from traditional bank deposits Mainland banks call for cap on online rates The China Banking Association (CBA) ... by the central bank, the proposal would subject yields on online money market products to the same administrative cap that governs traditional term deposits, effectively eliminating the key competitive ...

    http://www.scmp.com/business/banking-finance/article/1436607/chinese-banks-call-cap-online-interest-rates
  8. Interest cut for elderly prompts warnings

    Posted Aug 09th 2004, 12:00am by Elaine Wu

    ... with banks.' Iman Fok Tin-man, an organiser at the Society for Community Organisation, said most of the elderly she had helped kept their money in fixed-deposit accounts. 'Many elderly rely ... special interest rates to the elderly. The Bank of China is the only one that continues to do so. Anyone who is 55 years or older and has a fixed-deposit account of $30,000 or more can qualify ...

    http://www.scmp.com/article/465924/interest-cut-elderly-prompts-warnings
  9. Business - Money - CURRENCIES

    Dim sum bonds open new profits path for investors in Taiwan

    Posted Aug 18th 2014, 04:01am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com New bonds open yuan channels for Taiwan deposits Taiwan’s commercial banks have been earning sizeable profits through yuan deposits from the public, ... Most of them, even institutional investors, chose to save yuan as deposits at banks,” Zhou said. Taiwan has fewer than 30 Formosa bonds in issue since Beijing approved them last year. ...

    http://www.scmp.com/business/money/markets-investing/article/1575791/dim-sum-bonds-open-new-profits-path-investors
  10. Business - Banking & Finance

    ICBC eyes growth in Hong Kong retail deposits

    Posted Oct 15th 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com ICBC eyes growth in HK retail deposits ICBC Asia, the second-largest mainland bank subsidiary in Hong Kong, is looking to boost new deposits as the first step to competing with the city's more established retail rivals. Flora Leung Chui-yee, the head of the personal banking department at the bank, said she expected retail deposits to grow by more than ...

    http://www.scmp.com/business/banking-finance/article/1331845/icbc-eyes-growth-hong-kong-retail-deposits

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