Hong Kong Monetary Authority
The Hong Kong Monetary Authority is the government authority in Hong Kong responsible for maintaining monetary and banking stability. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary.
See below for the Latest Hong Kong Monetary Authority News, Analysis, Profit Results, Share Price Information, and Commentary.
Hong Kong to rename ‘virtual banks’ to ‘digital banks’
The bank will set-out new guidelines shortly.
Mortgage loans down 12.2% to $21.8b
Applications also fell by 12.2% MoM to 5,919.
Hong Kong deposits see modest growth in August, up 1.1% YoY
Year-to-date, total deposits have grown by 5.0%.
OTC derivatives reporting rules updated as HKMA, SFC conclude consultation
This initiative supports G20's commitment to reforming OTC derivative markets.
HKMA launches Phase 2 of e-HKD pilot programme
Mastercard, Airstar Bank and Kasikornbank will be participating.
Hong Kong stored value transactions up 4.6% in Q2
A total of 2 billion transactions were made between April to June 2024.
Bank of Singapore flags fraudulent app
It has reported the matter to the Hong Kong police.
HKMA reduces base rate to 5.25% in response to US Fed rate cut
The US Fed imposed a 50bps cut to its federal funds rate.
Hong Kong, Macau establish direct link for bond clearing and settlement
Investors in Macao and Hong Kong will benefit from the arrangement.
HKMA advises banks on flexibility with SME collateral
HKMA urged banks to be flexible, even if collateral values have declined.
HKMA suspends banker for signature forgery on deposit form
He photocopied a customer's signature on a time deposit application form.
IDA bags $46.8m funding to launch first fiat-referenced stablecoin
The firm anticipates mainnet launch before year-end.
Hong Kong fines WeChat Pay HK for legal breaches
WeChat Pay Hong Kong self-reported the case.
Credit card receivables fall 0.2% QoQ to $151.2b in Q2
Year-on-year, however, it rose by 4.9%.
HKMA, Cyberport launch GenA.I. Sandbox for financial sector
This aims to boost AI adoption.
PBOC and HKMA sign MOU on cross-boundary linkage of payment systems
They also exchanged views on financial co-operation between the Mainland and Hong Kong.
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