We are already very much in line. In characteristic copycat fashion the HKMA started an investigation of the Swiss bank UBS a day after it paid up for alleged Libor (London interbank offered rate) infringements. Hibor rhymes with Libor. How much more guilt do you need?Tuesday, 12 February, 2013, 5:08am
An investigation into the setting of Hong Kong's interbank interest rates is unlikely to reveal any misconduct that had a major social impact because rates have been low for years, says the Hong Kong Association of Banks.
But the industry body admitted there might have been some "wilful intention" to manipulate the rates, which could dent banks' integrity and reputation.2 Jan 2013 - 4:24am
Hong Kong's de facto central bank said it has begun investigating UBS for possible misconduct involving the setting of the city's interbank interest rate, raising fresh concerns that the Swiss bank faces more trouble.21 Dec 2012 - 4:33am
The HKMA said on Thursday that it would probe Swiss banking giant UBS over claims of possible rigging of Hong Kong’s interbank offered rate (Hibor).20 Dec 2012 - 9:49pm
Hong Kong's banking association has proposed increasing market transparency and reducing the number of maturities in the city's interbank reference rates market following a price-rigging scandal in London.
The British scandal saw banks manipulate interbank rates to profit from trades.27 Nov 2012 - 4:17am
Fund managers and listed companies have expressed support for a planned Hong Kong review of the local interbank rate setting to ascertain whether any manipulation is occurring.21 Aug 2012 - 3:56am
After making the biggest investment decision of her life to buy a flat in Hong Kong, Palanka Luk is now wrestling with another challenge - what type of mortgage should she choose?
'A prime-linked rate, or a loan linked to the Hong Kong interbank offered rate (Hibor)?' mused the single office worker in her mid-30s.14 Mar 2012 - 12:00am
HSBC will raise its mortgage interest rate based on the Hibor, or Hong Kong interbank offered rate, today - meaning that, for the first time, Hibor-based mortgages may cost more than mortgages based on the prime lending rate.7 Jul 2011 - 12:00am
Arcane policy discussions going on at the US Federal Reserve will soon start to seem very real to Hong Kong mortgage holders.6 Jun 2011 - 12:00am
Hong Kong banks are raising mortgage rates for the fifth time since May last year to combat funding pressures, and the trend is likely to continue, analysts and bankers say.17 May 2011 - 12:00am