• Thu
  • Jul 10, 2014
  • Updated: 10:16pm

Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) was established in April 1993 by merging the Office of the Exchange Fund with the Office of the Commissioner of Banking. The HKMA is responsible for maintaining monetary and banking stability, including maintaining currency stability within the framework of the Linked Exchange Rate system under which the Hong Kong dollar is pegged to the US dollar.


Banks hold emergency drill ahead of Occupy Central

The Hong Kong Monetary Authority conducted an emergency drill with 55 banks ahead of the Occupy Central movement's threat to blockade the streets of the business district.

Sunday, 15 June, 2014, 8:51am

Developers offer buyers financing to get around banks’ loan-to-value curbs

Hong Kong's biggest developers are skirting around bank restrictions by offering loans to raise the mortgage ceiling up to 85 per cent of a flat's value - which could put buyers at risk of a default if home prices fall significantly.

16 Apr 2014 - 5:52am

Sales of traditional insurance products benefit from tighter rules on investment-linked policies

A tightening of the regulations on investment-linked insurance policies since July has made insurers shift focus to basic life policies and annuity products, a trend industry players expect to continue this year.

1 Apr 2014 - 3:08am

Norman Chan reappointed as Hong Kong Monetary Authority chief

Hong Kong's de facto central banker, Norman Chan Tak-lam, has been reappointed with an 8 per cent pay rise, in a move seen by bankers as a bid to sustain the city's financial stability.

21 Mar 2014 - 4:15am 5 comments

Hong Kong banks battle for deposits earlier this year

A regulatory directive that banks in Hong Kong fund the loans they make with deposits of longer tenure has spurred the lenders to begin their annual battle for deposits earlier this year.

15 Mar 2014 - 5:05am

Liquidity concerns to slow loan growth in Hong Kong

Bank lending will increase in Hong Kong more slowly this year amid concerns about shrinking liquidity arising from the winding down of the bond-buying programme by the Federal Reserve in the United States, Standard Chartered Bank (Hong Kong) chief executive Benjamin Hung Pi-cheng said.

8 Mar 2014 - 12:53am

Hong Kong needs to develop global network to maintain its leading role in yuan business

Hong Kong must play an active role in developing an international network for cross-border business in the yuan if it is to maintain its leadership in a global market for the currency that could grow by 300 per cent over the next decade, Hong Kong Monetary Authority chief executive Norman Chan Tak-lam (pictured) said.

19 Feb 2014 - 12:40am 1 comment

HKMA to highlight liquidity risk in stress test for local banks

The Hong Kong Monetary Authority plans to conduct a thorough stress test on local banks this year, warning of excessive credit growth and mounting liquidity risk as capital flows out of the city's banking system in response to the tapering of quantitative easing in the United States.

25 Jan 2014 - 3:03am 1 comment

The moral hazards of intervening in the market

Things have never been the same in the financial world since the 2008-09 global crisis, but globally governments and bureaucrats are still trying to reshape them so that it does not happen again. In Hong Kong the government proposes to adopt powers of market intervention that not long ago would have been anathema to our free-wheeling economy. This would bring the city into line with rules brought in by the Financial Stability Board established by the Group of 20 industrialised countries after the avalanche of defaults that froze credit markets during the crisis.

13 Jan 2014 - 4:47am

Controversial investment-linked assurance schemes poised to make a comeback

A controversial class of investment products may soon become widely available again after most banks in Hong Kong stopped selling them when tough restrictions on their sale were introduced this year.

6 Dec 2013 - 3:21am