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  • October 22, 2014
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  1. 'Heritage' mansion perfect for a dim sum tourist hang-out

    Posted Sep 05th 2010, 12:00am by Jake Van Der Kamp

    ... depositors. If the bank in which they make their deposits goes bust they will still be the first to get their money back, after wages and taxes are paid, but they will not be guaranteed full payment ... They nationalise one side of that balance sheet by guaranteeing deposits. The depositors then don't really care in which bank they place their deposits. These deposits are safe. All they look ...

    http://www.scmp.com/article/723878/heritage-mansion-perfect-dim-sum-tourist-hang-out
  2. Business - Banking & Finance

    Ping An Bank raises deposit interest rates

    Posted Oct 13th 2012, 12:00am by Kwong Man-ki

    ... has raised its interest rate for longer-term time deposits, in a sign that smaller lenders on the mainland are competing more fiercely to attract depositors. The Shenzhen-based bank has raised ... The 4.125 per cent interest rate hits the upper limit set by the People's Bank of China in June, capping the deposit rate at 1.1 times the benchmark rate of 3.75 per cent that was set in July. ...

    http://www.scmp.com/business/banking-finance/article/1059893/ping-bank-raises-deposit-interest-rates
  3. 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
  4. Business - Money - EQUITIES

    Beijing seeks entry into UK, Singapore markets

    Posted Oct 10th 2014, 05:49am by Jeanny Yu

    ... will put Hong Kong in direct competition with London and Singapore for mainland investors. It will also pose a challenge to Hong Kong banks- where most wealthy mainlanders keep their yuan deposits- to keep offshore yuan in the city. Wang Dan, a senior official at the People's Bank of China, was quoted by China Business News yesterday saying the central bank is working on the framework ...

    http://www.scmp.com/business/money/markets-investing/article/1613285/beijing-seeks-entry-uk-singapore-markets
  5. 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
  6. Business - Banking & Finance - BANKING

    China’s Evergrowing Bank hit by 4b yuan credit product default

    Posted Sep 12th 2014, 02:40pm by Reuters

    ... deposits, but analysts warn the risk of defaults is rising as the world's second-largest economy slows. Evergrowing Bank guaranteed the repayment of 3.7 billion yuan of principal and 300 ... Reuters in Shanghai Mainland lender hit by 4b yuan product default An off-balance-sheet credit product default has left a small mainland bank on the hook for 4 billion yuan (HK$5 billion), ...

    http://www.scmp.com/business/banking-finance/article/1590852/chinas-evergrowing-bank-hit-4b-yuan-credit-product-default
  7. Business - Banking & Finance - MARKETS

    City's offshore yuan pool under threat from trade discount

    Posted Oct 06th 2014, 04:10am by Jeanny Yu

    ... institutional investor (RQFII) scheme and the migration of liquidity to other centres- are adding to the challenges faced by Hong Kong banks in keeping yuan deposits. The offshore yuan had been trading ... renminbi deposit rate on Friday to 3.4 per cent, the highest among its peers. Nanyang Commercial Bank, Bang of China (Hong Kong) and Citibank have also increased rates in the past month to retain ...

    http://www.scmp.com/business/banking-finance/article/1610249/citys-offshore-yuan-pool-under-threat-trade-discount
  8. 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
  9. 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
  10. 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

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