Hong Kong Association of Banks

Banks back public access to directors' addresses and full ID numbers

The Hong Kong Association of Banks raised the concerns in its submission on amendments to the Companies Ordinance. Photo: SCMP

Banks have come out against proposed changes to Hong Kong company records which would hide the home address and full ID numbers of directors and secretaries from public scrutiny.

Sunday, 13 January, 2013, 4:36am

Banking chief Benjamin Hung warns of 'turning point' in interest rates

Benjamin Hung Pi-cheng

Hong Kong's banking association has warned that the risk of higher interest rates will rise as the US economy improves and the Federal Reserve links the unemployment level with its short-term interest rate policy.

2 Jan 2013 - 10:22am

No system rot to surface from Hibor probe

HKAB chairman Benjamin Hung says interbank lending rates have not moved significantly in Hong Kong, as they have done elsewhere. Photo: Jonathan Wong

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

Qianhai loans welcome but not big business

New rules from the central bank allow companies in Qianhai to take out yuan loans from Hong Kong banks. Photo: Edward Wong

While Hong Kong banks welcomed Beijing's initiative to let them make yuan-denominated loans to companies operating in Qianhai, analysts warned the amount of new business would be small, at least at first, and not lucrative.

29 Dec 2012 - 4:58am

Latest US easing prompts HKMA inflation warning

Latest US easing prompts HKMA inflation warning

The latest round of US monetary easing has put Hong Kong's de facto central bank on high alert over the outlook for inflation as the prospect of more speculative money finds its way into the city's economy.

14 Dec 2012 - 3:00am

Global demand for yuan on the rise

HKMA chief Norman Chan says Hong Kong banks should develop their yuan business with other offshore centres. Photo: K.Y. Cheng

Beijing's efforts to promote the yuan by developing the offshore yuan business are well supported by increasing trade settlement with the rest of the world in the currency, officials and industry experts said yesterday.

1 Dec 2012 - 4:31am

Lenders vow to be transparent on Hibor

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

Industry group to scrutinise Hibor fixing

The Hong Kong Association of Banks is reviewing the fixing procedures and governance structures of the Hong Kong interbank offered rate (Hibor), following intense central bank scrutiny of the mechanism used for the London interbank offered rate (Libor).

20 Jul 2012 - 12:00am

Minibond buy-back plan defended

Financial Secretary John Tsang Chun-wah has defended the buy-back of Lehman Brothers derivatives as practical and capable of withstanding challenges.

His comments follow the announcement of a US class-action lawsuit by local investors expected to start by the end of next month.

7 Dec 2008 - 12:00am

Bankers urge discretion in Legco inquiry

Call to uphold city's financial reputation in minibonds probe

Bankers have called on legislators to be discreet in conducting their inquiry into the Lehman Brothers minibonds debacle, saying they should respect the confidentiality of business information and protect customers' personal data.

13 Nov 2008 - 12:00am

First look at sample credit risks report

Banks have offered a glimpse of the type of information they want to share in the controversial 'positive credit bureau' they hope to see introduced in the SAR.

29 Mar 2002 - 12:00am

Confidence surges in stock market

Confidence in the stock market has surged by more than 40 per cent from last month following the recent reduction in interest rates, a survey has found.

The rate cuts also helped boost confidence in the property market by more than 20 per cent, according to the Hong Kong Policy Research Institute's monthly survey.

22 May 2001 - 12:00am

BOC to chair association

IN a widely-tipped move, Bank of China will soon become one of the rotating chairmen of the Hong Kong Association of Banks (HKAB), the influential industry body, sharing the helm with Hongkong Bank and Standard Chartered Bank.

26 Nov 1994 - 12:00am

HKAB and council head for a clash

THE Hong Kong Association of Banks (HKAB) will stage its formal comeback against the Consumer Council today.

It will face the council head-on when it tables a response to the council's report questioning the fair treatment of depositors, at a meeting of the Legco sub-committee on finance, taxation and monetary affairs.

13 Apr 1994 - 12:00am

All in our best interest

THE pleadings offered by the Hong Kong Association of Banks (HKAB) in opposition to the Consumer Council's recommendation to phase out the Interest Rate Agreement (IRA) are primarily built around the logic that fierce interest rate competition may lead toa number of ugly scenes.

12 Apr 1994 - 12:00am