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  • July 11, 2014
  • Last updated: 10:01am
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  1. News - Hong Kong - COURTS

    Hui trial: alleged go-between's sister-in-law testifies against him

    Posted Jun 23rd 2014, 11:48pm by Austin Chiu

    ... Citing a bank statement, he said the interest rate for a US$500,000 deposit Kwan made was 2.3 per cent- as compared to the 1.11 per cent interest of the Hong Kong dollar loan. "This ... Austin Chiu austin.chiu@scmp.com Sister-in-law testifies for prosecution in the Rafael Hui graft case, says alleged go-between routed money through her bank account Hui trial: Kwan ...

  2. Business - Banking & Finance - CURRENCIES

    Surge in yuan holdings by banks prompts concern in Seoul

    Posted Mar 20th 2014, 01:35am by Reuters

    ... as mainland banks aggressively raise funds overseas in response to tighter credit back home. Because the won cannot be directly converted into yuan, the deposits are built through a structured product ... if their deposits are used to fund risky loans on the mainland that subsequently go sour. The four banks being inspected were Bank of China, Industrial and Commercial Bank of China, China Construction Bank ...

  3. Please pass the buck and carry a soft stick

    Posted Oct 10th 2003, 12:00am by Jake Van Der Kamp

    ... YEARS AGO, WHILE working in the stockbroking arm of a local bank that had just appointed a new managing director, I happened to be sitting near the stage at the bank's annual dinner, a big banquet with at least 50 tables. One of the features of the night was the Miss --- ---- Bank Contest with three shows, evening wear, swimwear and casual wear (I shall not give you ...

  4. Business - Money - ASSET ALLOCATION

    For world’s wealthy, years after financial crisis cash is still king

    Posted Jun 18th 2014, 03:21pm by Reuters

    ... bank Vontobel, said at the Reuters Global Wealth Management Summit on Tuesday. Cyprus’s seizing of deposits above 100,000 euros (HK$1.05 million) last year and political tensions between Russia ... Reuters in Geneva The world’s richest people are clinging to stockpiles of zero-yielding cash despite a surge in financial markets and increasingly sophisticated attempts by private banks ...

  5. Business - Banking & Finance - BANKING

    PBOC cuts reserve ratio for rural banks but analysts sound caution

    Posted Apr 23rd 2014, 12:50am by VICTORIA RUAN AND KANIS LI

    ... of America Merrill Lynch's Lu Ting said the macro impact of the cut would be small. As of end-2013, deposits of rural commercial banks and rural co-operative banks were at 7.8 trillion yuan (HK$9.7 trillion), a tiny fraction of total deposits held by the banking sector at 104 trillion yuan, Lu said. Even assuming the cut is applied to all the 7.8 trillion yuan rural deposits, a 100 ...

  6. Business - Banking & Finance - CURRENCIES

    Yuan deposits see wide range in rates

    Posted Jul 17th 2013, 12:00am by Jeanny Yu

    ... of just 0.6 per cent to attract six-month yuan deposits, China Construction Bank (Asia) on Monday offered up to 5.2 per cent to new customers for fresh deposits. China Citic Bank International, ... Yet the deposit rates that many banks are offering are still far higher than that figure. "Lots of Chinese banks, such as China Construction Bank, may have been affected by the credit ...

  7. Business - Economy - ECONOMY

    World Bank chief backs launch of BRICS bank

    Posted Jul 09th 2014, 05:20am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com World Bank chief says new entrants will help the multilateral lender battle poverty and spur growth rather than threaten its position Kim backs launch of BRICS bank World Bank president Jim Yong Kim welcomed the initiatives of establishing two new multilateral lenders, saying they would not pose a threat to the Washington-based ...

  8. Business - Banking & Finance - SHADOW BANKING

    Beijing needs to turn off the credit tap

    Posted Jun 02nd 2014, 09:55am by JOE ZHANG

    ... Joe Zhang Beijing must deal with shadow banking head-on rather than diverting energy to tangential matters such as regulation and deposit insurance Staying in the shadows China's ... , there is a neat solution: turn off the credit tap and/or raise interest rates on bank deposits by 1 to 2 percentage points. Sadly, the government is reluctant to take the right action. Today, China's ...

  9. Business - Banking & Finance

    No extra interest for retail yuan deposits

    Posted Mar 02nd 2013, 12:00am by KANIS LI

    ... Kanis Li kanis.li@scmp.com Interbank rate the key factor on how much bank customers will be paid for their savings No extra interest for retail yuan deposits Bank customers with yuan deposits in Hong Kong will not be getting higher interest on those deposits although Bank of China (Hong Kong) has raised the interest rate it offers on yuan that those banks hold with it. Bankers ...

  10. Comment - Insight & Opinion

    To be effective, China's policy fine-turning has to go hand in hand with reforms

    Posted Jul 02nd 2014, 01:06pm by Hu Shuli

    ... of banks' deposit reserve ratios. While the government's attention is undoubtedly focused on the right sectors, the wisdom of its policy choices is open to debate. Take its attempt to reduce deposit reserve ratios for some banks. That small businesses face great difficulties raising money is a well-known problem. But a liquidity bottleneck isn't the cause. Rather, the problem ...




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