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  1. 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 ...

  2. 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 ...

  3. HKMA reports strong rise in yuan trade settlement

    Posted May 18th 2011, 12:00am

    ... Enoch Yiu enoch.yiu@scmp.com Yuan deposits, trade settlements and bond offerings in Hong Kong increased substantially in the first quarter, according to the Hong Kong Monetary Authority (HKMA). Bankers expect the trend to continue as investors and traders try to gain from the appreciation of the currency. Yuan deposits in Hong Kong reached 451.4 billion (HK$538.99 billion) ...

  4. HKMA puts new limits on home mortgages

    Posted Jun 11th 2011, 12:00am

    ... Enoch Yiu and Yvonne Liu The Hong Kong Monetary Authority tightened home lending for properties priced above HK$6 million and, for the first time, imposed extra restrictions on mortgages ... to Hong Kong or if their parents, spouses or children live in Hong Kong. Hong Kong Association of Banks chairman He Guangbei said the requirements were not discrimination measures against non-Hong ...

  5. 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 ...

  6. HKMA Quality Award 2011

    Posted Sep 29th 2011, 12:00am

    ... Panel of Judges David Li Kwok-po Panel chairman, Bank of East Asia chairman and chief executive Alfred Chan Wing-kin Managing director, Hong Kong and China Gas John Chan Cho-chak Non-executive director, Transport International Holdings Harry Lee Chief executive officer, TAL Apparel David Sun Council member, Hong Kong Management Association James E. Thompson Chairman, Crown ...

  7. HKMA: banking outlook remains bright with overseas collaboration

    Posted Sep 16th 2011, 12:00am

    ... May Chan may.wychan@scmp.com The future of Hong Kong's banking industry remains bright if local lenders are willing to collaborate with overseas banks in offshore yuan trading, said Norman Chan Tak-lam, chief executive of the Hong Kong Monetary Authority. Local lenders must think about how to work with their foreign counterparts in providing yuan products and services, Chan ...

  8. 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 ...

  9. Customers get new protection

    Posted Sep 30th 2011, 12:00am

    ... Liana Cafolla Since Lehman's collapse in 2008, attention has focused on banks' sales practices. Alice Lee, division head of the banking conduct department at the Hong Kong Monetary Authority (HKMA), identifies three regulatory challenges: increasing awareness of investors' rights, more protection for ordinary customers, and regular monitoring of banking sales ...

  10. A pie in the sky that's decades away

    Posted Sep 27th 2011, 12:00am

    ... hovered right around its official rate of HK$7.80 to US$1, quite unlike the turmoil days of 2008 and 2009, when speculators pushed it right to the HK$7.75 level at which the Hong Kong Monetary ... pure currency board rules, can work only if the host currency is completely open and convertible on the capital account. Hong Kong's peg relies on the fact that anyone can exchange HK ...




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