Hong Kong
HKMA will honour Basel III deadline, says executive director
Karen Kemp says Hong Kong’s banks will not be put at a competitive disadvantage by implementing new capital standards before US and EU
Stronger governance recommended for Hibor
Review of Hong Kong interbank offered rate finds no abuse in fixing process, but new code of conduct put forward to fortify governance
Local trade repositories are necessary, say HKMA’s Lee
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
Hong Kong set to meet Basel III deadline as others struggle
Hong Kong to put final Basel capital requirements legislation in place by January 1 deadline, as most other countries struggle to hit G-20 deadline
‘Soft power’ is key to international success, says HKMA’s Chan
HKMA chief executive says soft power is central to improving international financial centres; institutions’ culture is integral in this
HKMA seconds director-general for enforcement
Division head of banking supervision promoted to executive director for enforcement after announcement that Raymond Li will be seconded to the Hong Kong Mortgage Corporation
HKMA imposes tighter property loan guidelines
The HKMA details new guidelines aimed at borrowers with multiple property mortgages; seeks to restrict the amount of debt individuals can acquire
HKMA deputy dismisses yuan competition fears
Competition in the offshore renminbi market offers opportunities that can be exploited to increase Hong Kong’s share of the market, says Eddie Yue
Tributes to the governor that never was (Andrew Crockett, 1943-2012)
Bank of England, BIS and IMF heads pay respects to policymaker Andrew Crockett, who died this week. Crockett described as the governor ‘that never was’ and the ‘midwife’ to the HKMA
HKMA moves to improve retail payments system
Hong Kong unveils a three-pronged approach to improve payments system; targets transfers denominated in renminbi as well as the Hong Kong dollar
HKMA re-appoints Standard Chartered as euro settlement institution
Standard Chartered Bank given a third five-year contract to run the euro real-time gross settlement system in Hong Kong; commended for operating the system “smoothly and effectively” since 2003
China moves to promote offshore renminbi trade
HKMA welcomes new Chinese government measures to support growth of offshore renminbi business in Hong Kong; central banks buy $315 million of offshore renminbi bonds
New microfinance scheme launched in Hong Kong
Microfinance scheme to be run by Hong Kong Mortgage Corporation in collaboration with banks and non-government organisations; follows joint study with Hong Kong Monetary Authority last year
Singapore and Thailand sign cross-border collateral MoU
Monetary Authority of Singapore and Bank of Thailand sign agreement to establish cross-border collateral arrangement; aims to promote financial stability in both countries
HKMA unveils new phase of cross-border settlement platform
Hong Kong and Malaysian central banks to add cross-border collateral management service to settlement platform to promote growth in 'underdeveloped' Asian repo markets
HKMA’s Chan on Hong Kong as private banking hub
Norman Chan says Hong Kong is 'exceptionally well-placed' to become leading Asian private banking hub; warns that regulatory framework cannot afford to remain static
HKMA deputy on Hong Kong as centre of renminbi growth
Eddie Yue, deputy chief executive of the Hong Kong Monetary Authority, describes rapid growth of renminbi as international currency; emphasises central role of Hong Kong in renminbi trade
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China
HKMA strikes a cautious note on territory’s banking sector
Hong Kong Monetary Authority concerned about continued credit expansion in the territory and contagion risk from the European sovereign debt crisis
HKMA settles on staff pay increase
Hong Kong Monetary Authority decides to raise staff wages by more than 5%; constitutes a larger increase than was awarded in 2011
HKMA bulletin reveals liquidity pressures
Funding costs for banks rise amid tougher international climate as renminbi debt market expands, says HKMA Quarterly Bulletin and Half Year Financial Stability Report
Hong Kong to launch new microfinance pilot scheme
Hong Kong Mortgage Corporation says it plans to issue up to HK$100 million worth of loans as part of three-year long trial
Financial conditions ripe to relax renminbi rules, says HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says continued growth of Hong Kong's offshore renminbi market has paved the way for more relaxed regulatory requirements