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  1. Monetary Authority under fire

    Posted Mar 14th 2006, 12:00am by Jimmy Cheung

    ... Jimmy Cheung Lawmakers say they are kept in dark on budget Lawmakers have accused the Hong Kong Monetary Authority of keeping them in the dark over its annual budget estimates. Legco ... learn details of the authority's spending in its annual report. Democrat Sin Chung-kai said the Monetary Authority was the only public body which did not need to give an account of its ...

  2. Monetary chief sees yuan parity this year

    Posted Apr 08th 2006, 12:00am by Andy Chen

    ... Andy Cheng and Maria Chan But HK$ will never be supplanted, given the US dollar peg, says Joseph Yam The value of the yuan could equal or surpass that of the Hong Kong dollar before the year is out, Monetary Authority chief executive Joseph Yam Chi-kwong predicted last night. But he sought to ease market concerns that, if this happened, the mainland currency would supplant ...

  3. Authority shines light on cost of lending for banks

    Posted Feb 23rd 2006, 12:00am by Louis Beckerling

    ... as it was shone by their own regulator, the Hong Kong Monetary Authority, an exercise that will be repeated every month. The occasion was the release by the authority of its 'composite interest ... Louis Beckerling Borrowers have been treated to a rare peep into the engine room that drives the lending business in Hong Kong- to the mild irritation of bankers who prefer making less ...

  4. Yuan parity unlikely to have much effect on Hong Kong

    Posted Dec 19th 2006, 12:00am by Tom Holland

    ... of the Hong Kong Monetary Authority's convertibility undertaking at 7.85 to the US dollar the stresses will become unbearable. Unable or unwilling to withstand the pressure, the HKMA will ditch ... Tom Holland Approaching parity between the yuan and the Hong Kong dollar should neither sever Hong Kong's exchange rate link to the US dollar nor lead to an upsurge of inflation ...

  5. New products eyed as lenders skirt price war

    Posted Feb 28th 2006, 12:00am by Staff Reporter

    ... cutting. 'They also may not want to spark concern from the Hong Kong Monetary Authority,' one source said. The intensifying mortgage war is worrying the banking watchdog and it hopes ... a director at ICBC (Asia), said he was not aware the monetary authority had asked lenders to notify it of mortgage pricing. 'In fact, banks are more rational this time [by not cutting mortgage ...

  6. Plastic notes to mark handover anniversary

    Posted Dec 30th 2006, 12:00am by Staff Reporter

    ... secretary at the time, Antony Leung Kam-chung, and the chief executive of the Hong Kong Monetary Authority, Joseph Yam Chi-kwong. Asked whether the new notes would be signed by Financial Secretary ... Denise Hung New HK$10 plastic notes will be issued next year to celebrate the 10th anniversary of the handover, with the Monetary Authority disclosing details of the release within ...

  7. Credit-card spending up but roll-over ratio slides

    Posted Feb 16th 2006, 12:00am by Staff Reporter

    ... Maria Chan The tax season and Christmas holidays saw Hong Kong credit-card spending reach $68 billion in the fourth quarter of last year, almost 15 per cent up on the same period the previous year. But this was not reflected in the amount of borrowing on credit cards, expressed in the roll-over figures contained in the latest data from the Hong Kong Monetary Authority (HKMA) ...

  8. HKMA staff on high end of pay rises

    Posted Apr 01st 2006, 12:00am by Enoch Yiu

    ... Enoch Yiu Chief executive says his salary will remain at last year's levels The Hong Kong Monetary Authority's 600 staff will be given the highest pay rises and bonuses among ... regulator, Hong Kong Exchanges and Clearing, whose 800 employees this year received an average pay rise of between 2 per cent and 4 per cent. In terms of bonuses, HKMA staff also came out on top, ...

  9. Cleaner, longer-lasting, hygienic: HK prepares for plastic banknotes

    Posted Dec 29th 2006, 12:00am by Staff Reporter

    ... Denise Hung Plastic money could be on its way to Hong Kong next year. The Hong Kong Monetary Authority and the government are considering issuing notes printed on polymer instead of paper, ... The study has found that the polymer notes will stick to users' hands in steamy Asian weather and are more difficult to fold than paper notes. The Monetary Authority said it did not comment ...

  10. HKMA prepares for bird-flu virus

    Posted Jun 15th 2006, 12:00am by Staff Reporter

    ... Maria Chan The Hong Kong Monetary Authority says it has taken a number of initiatives to ensure the banking sector's preparedness in the event of a bird flu outbreak. A secure and effective communications network between banks has been set up while an industry task force has been established to see that lenders have good business continuity plans in place. 'The ...




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