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  1. Raise deposit protection to HK$500,000, board says

    Posted Apr 28th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu and Maria Chan A government agency has proposed lifting the ceiling on Hong Kong's bank deposit protection to HK$500,000. As reported by the South China Morning Post last ... that is cost-effective, provides protection for depositors and prevents moral hazard in banking,'' Mr Li said. The deposit insurance scheme, launched in 2006 and funded by the banks, offered up ...

  2. Mainland investors claim HK$500m loss on 'misleading' accumulator bets

    Posted Aug 01st 2009, 12:00am by Paggie Leung

    ... Paggie Leung A group of mainlanders who said they had lost up to HK$500 million in accumulator investments complained to the Hong Kong banking regulator yesterday about banks in the city allegedly misleading them. 'We were misled by Hong Kong banks into purchasing stock accumulators. We were not warned about the risk of the products,' the convenor of the Alliance of Hong ...

  3. Banks advised to reveal risky products to buyers

    Posted Feb 24th 2009, 12:00am by Paggie Leung

    ... Paggie Leung Banks should tell clients if the risk level of their financial products has changed, the Hong Kong Monetary Authority has advised, although it did not ask them to do so before the Lehman Brothers minibond saga. 'We think if the risk has increased, banks should let their customers know,' the authority's deputy chief executive, Choi Yiu-kwan, told a special ...

  4. Seeing changes and adopting them

    Posted Nov 07th 2009, 12:00am by Chris Davis

    ... Chris Davis A combination of changing customer needs and stricter regulatory requirements has seen Hong Kong's banking and financial landscape go through unprecedented changes ... will not be sufficient to support a comfortable retirement lifestyle. As banks re-evaluate their business models and meet regulatory requirements that govern the sale of investment products the focus now is more ...

  5. Mortgage war to intensify but banks likely to be selective in cutting rates

    Posted May 19th 2009, 12:00am by Staff Reporter

    ... Maria Chan Competition in the home loan market is set to intensify, but banks, especially the big players, are likely to offer lower rates only selectively to defend their market share instead of cutting rates across the board, analysts said. 'It cannot be ruled out that some banks will cut mortgage rates further due to low funding costs at the moment,' said a veteran ...

  6. CCB profit slides 4.9pc as interest margins narrow

    Posted Aug 22nd 2009, 12:00am by Staff Reporter

    ... Maria Chan China Construction Bank Corp, the country's second-largest lender, said first-half net profit fell 4.88 per cent as narrowing net interest margins offset a steep rise ... to 102.47 billion yuan after net interest margin contracted 83 basis points to 2.46 per cent from a year ago. The bank blamed this on the lower interest rate environment which sliced yields from ...

  7. Basel Committee plans to tighten requirements on lenders' capital

    Posted May 29th 2009, 12:00am by Staff Reporter

    ... Maria Chan Banks are likely to face higher requirements on the level and quality of their capital in the long term as global authorities act to boost banks' capital adequacy, risk management and supervision to make the financial system more resilient. The Basel Committee, which sets standards used by global banks, has indicated it would not raise minimum capital requirements ...

  8. Write-downs, bad debts hurt Dah Sing results

    Posted Mar 26th 2009, 12:00am by Staff Reporter

    ... Maria Chan Dah Sing Banking Group, a medium-sized Hong Kong lender, reported a net loss of HK$328.05 million in the second half of last year due to a surge in bad-debt provisions and a substantial write-down on securities investments. The bank said asset quality was likely to continue to deteriorate during the remainder of the first half of this year. Despite the second-half loss, ...

  9. G20 should ban universal banks to prevent next crisis

    Posted Mar 31st 2009, 12:00am by Tom Holland

    ... they will announce their intention to regulate hedge funds and ratings agencies, as well as to force banks to move towards pro-cyclical provisioning, requiring them to set aside money during good times as protection against future rainy days. These last steps are good and sensible, but they do not go far enough. None of the proposed regulatory changes tackles the features of the universal banking ...

  10. Bank earnings may slow but will still lead the world, says regulator

    Posted Feb 27th 2009, 12:00am by Cary Huang

    ... Cary Huang in Beijing Profits of the mainland's banking industry would continue to outperform the rest of the world but might not match last year's 30.6 per cent growth, the country's banking regulator said. 'In the current severe external situation, I don't know whether this year's profit growth will match last year's, but one thing I am 100 per ...




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