Hong Kong
HKMA sets new Libor transition milestones for banks
Nearly all banks have transition plans but risks from benchmark reform continue to build up in the banking system, HKMA warns
Central bank museums grapple with lockdown
Money museums moved online to keep communicating during Covid-19 lockdown; some now plan to reopen for a limited number of visitors
The complex art of reserve management
The coronavirus lockdown represents another inflection point for central banks seeking to optimise the management of their $12 trillion in FX reserves
Hong Kong’s Exchange Fund reports record loss in first quarter
State fund’s assets lose $11 billion and investment chief warns of further losses
HKMA sets up inter-agency group for green finance
New initiative aims to co-ordinate regulation as ADB says Asia has huge green finance needs
The Belt and Road Initiative 2020 Survey – A more sustainable road to growth?
The third annual Belt and Road Initiative (BRI) survey reveals that central banks view BRI investment as sustainable compared with other forms of external debt, particularly given it is often proportionally less significant. Despite growing global trade…
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
Crises enliven ‘totalitarian temptations’
The coronavirus pandemic will embolden governments and bodies such as the International Monetary Fund to grasp for more power, writes Steve Hanke
Asian central banks rush to roll out easing measures
Japan expands asset purchases; Korea cuts rates to record low; China extends lending and HKMA cuts capital buffer
Policy responses to Covid-19
The coronavirus outbreak poses a real threat to the global economy, writes Sayuri Shirai
Treasury systems initiative: Calypso Technology
The tech company secured important breakthroughs including with its Maps treasury operations system
Hong Kong and Thailand launch next phase of cross-border CBDC project
CBDC-based payments can cut costs and boost speed, HKMA and Bank of Thailand study shows
HKMA says banks should set up AI hub
Hong Kong lenders should establish “centre of excellence” to improve use of AI, central bank says
ECB paper examines low inflation’s impact on Asia
Researchers study impact of downside inflationary shocks on 12 of region’s largest economies
Facing up to the tech challenge
Central banks get a wake-up call from libra
HKMA calls for innovation in fight against money laundering
The authority flags new and emerging risks in the city’s AML/CFT regime, urging stakeholders to collaborate and innovate
Central banks turn to Instagram to reach younger generations
The audiovisual social media network is helping some central banks offer financial education and other campaigns for millennials and Gen Zs
Hong Kong cuts interest rates as economy enters recession
HKMA eases for the third time following Fed move, prompting banks to cut lending rates for the first time since 2008; economy contracts sharply in third quarter
HKMA cuts banks’ counter-cyclical buffers
Hong Kong’s central bank meets with lenders to increase SME funding as protests escalate
Hong Kong authorities look at term structure for risk-free rate
New ‘proxy’ Honia could help change discount rate from Hibor to OIS for local swaps
PBoC says its bills are better tools than bonds for China
Central bank bills will play a bigger role in stabilising yuan exchange rates, suggests PBoC research note
HKMA dismisses cash limit rumours as tensions escalate
Emergency laws will not affect cash withdrawal or capital flows, HKMA says
HKMA launches Instagram account
Hong Kong Monetary Authority aims to “engage with younger generation”
Rate round-up: Fed triggers further global easing
Fed cut prompts flurry of action, with many central banks hinting at a more dovish stance