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  1. Monetary Authority and SFC have passed the buck to Hong Kong's banks

    Posted Sep 06th 2011, 12:00am

    ... and the industry is not 'happy'. The minibonds saga exposed deficiencies in Hong Kong's regulatory structure, and therefore offered a great opportunity for the system to be overhauled ... client reliably know the inherent risk to capital of the financial products being offered. It is fundamental that the decision to buy or not must be for the client [to make]. The Hong Kong ...

  2. What a US sovereign default would mean for Hong Kong

    Posted Jul 19th 2011, 12:00am

    ... rates leapt, forcing the Hong Kong Monetary Authority to provide emergency liquidity to the city's smaller banks. Meanwhile, asset market volatility would soar as investors attempted ... concluded, 'there is a small but rising risk of a short-lived default'. For Hong Kong, with its currency link to the US dollar, the possibility of even a short-lived technical default ...

  3. Authority reports investment loss of HK$40.8b

    Posted Dec 16th 2011, 12:00am

    ... in the three months. Monetary Authority chief executive Norman Chan Tak-lam reported the result to legislators yesterday, prompting several to complain about the poor performance. 'The HKMA has failed to ensure the Exchange Fund achieved an investment return that could preserve value for Hong Kong people's assets,' Regina Ip Lau Suk-yee said. Chan defended the performance, ...

  4. Fundamentals, not bubble, driving HK's property prices

    Posted Sep 02nd 2011, 12:00am

    ... of the city's 1997 property boom and bust. In the months following the IMF's initial warning, the government and the Hong Kong Monetary Authority introduced a series of administrative restrictions ... Tom Holland It's almost two years now since the International Monetary Fund warned that a bubble was about to develop in the Hong Kong property market. 'Strong capital inflows ...

  5. Spectre of rate hike after growth forecast

    Posted May 03rd 2011, 12:00am

    ... months' time. The Hong Kong Monetary Authority (HKMA) also issued a warning, saying interest rates here would rise even before any increase by the Fed. HKMA chief executive Norman Chan Tak-lam ... monetary conditions may start to move gradually towards normalisation from June,' Chan was quoted as saying. 'I would like to remind the public that Hong Kong dollar interest rates may ...

  6. Hong Kong's anti-inflation measures aren't working

    Posted May 24th 2011, 12:00am

    ... as 'macro-prudential' measures in an attempt to rein in inflationary pressures. In a nutshell, these consist of a combination of administrative controls and arm-twisting by the Hong Kong Monetary Authority aimed at slowing down the pace of bank lending in Hong Kong's economy. Last November, for example, the monetary authority increased the cash deposits that mortgage borrowers are required ...

  7. HKMA worries easy credit could create asset bubbles

    Posted Jan 28th 2011, 12:00am by Lulu Chen

    ... Lulu Chen Hong Kong banks are entering a period of enhanced risk as loan growth is surging on the back of low interest rates and abundant liquidity, says the Hong Kong Monetary Authority. 'I'm concerned about credit growth,' said Arthur Yuen, deputy chief executive of the HKMA, adding that banks should be prudent in lending. Hong Kong bank lending rose 28.6 per cent last ...

  8. Exchange Fund to invest in mainland for higher returns

    Posted Jan 27th 2011, 12:00am by Enoch Yiu

    ... Enoch Yiu The Hong Kong Monetary Authority will soon start investing in mainland stocks and bonds to improve the performance of the Exchange Fund. While Hong Kong's retail investors ... which exists to support the Hong Kong dollar's peg to the US dollar, is managed by the HKMA to invest in bonds, Hong Kong and overseas stocks, and foreign currencies. The fund made a profit ...

  9. Banks' loan growth set to slow this year

    Posted May 24th 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com Hong Kong banks have indicated they will slow loan growth for the rest of the year but some might have to moderate expansion even further because of their 'overly optimistic' estimate of deposit growth, according to the Hong Kong Monetary Authority. In light of the rapid loan growth, the authority last month asked lenders to submit ...

  10. Yuan deposits reach 510 billion

    Posted May 31st 2011, 12:00am

    ... Lulu Chen lulu.chen@scmp.com The Hong Kong Monetary Authority said yesterday that yuan deposits had reached 510 billion yuan (HK$610.24 billion) by April, but stressed that concerns about a marginalisation of the local currency are 'ill-founded'. Responding to commentators who suggested the yuan is a potential substitute for the Hong Kong dollar, HKMA chief executive Norman Chan ...




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