Hong Kong
Balance between Hong Kong and Singapore ‘vital’ for financial stability
Researchers at the IMF find Hong Kong and Singapore complement each other as financial centres because they specialise in different markets and clienteles
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report
Hong Kong banks' mainland exposure ‘not all hot money' says HKMA deputy
The right way to mitigate Hong Kong banks' exposure to mainland China is through supervising their credit risk and liquidity risk management, says Arthur Yuen
Offshore renminbi has increasing impact on Asian exchange rates
How long the independent impact will last will likely depend on China's progress in liberalising its capital account, according to working paper from the Bank for International Settlements
Chan wins another five-year term atop HKMA
HKMA chief executive praised by Hong Kong government for his steady hand on the tiller throughout the financial crisis and developing Hong Kong as an offshore renminbi centre
HKMA rebukes UBS over attempts to rig Hibor
Hong Kong central bank finds six traders at UBS tried to influence the bank’s Hibor submissions between 2006 and 2009; demands remedial action
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
HKMA launches ‘hassle-free’ electronics payments platform
Hong Kong Monetary Authority says the platform will enable the general public to receive, manage and schedule electronic payments in three different currencies through one portal
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis
HKMA’s Yue calls for offshore RMB co-operation
Deputy chief executive Eddie Yue says Hong Kong and the United Kingdom need not compete for a slice of the global offshore renminbi market – they can ‘grow the pie together’
Dollar lending in East Asia can override local monetary policy, says BIS' McCauley
Paper by Robert McCauley and Dong He of the HKMA argues the growth of credit in foreign currencies, especially the dollar, transmits global monetary easing to East Asia
HKMA reviews progress on global financial regulation
Bulletin article outlines the stabilisation options that member jurisdictions should have access to in the event that a too-big-to-fail bank does just that
Hong Kong and Australia see risks in low interest rates and Chinese NPLs
Impact of any shift in the yield curve on banks' balance sheets ‘may not be small', according to HKMA; RBA urges lenders to maintain prudent risk appetite as rates remain low
HKMA primed for mobile payments surge
The Hong Kong Monetary Authority is enhancing the legal and supervisory framework needed for the safe development of retail payments for its echnology-savvy population
HKMA deputy says QE taper to bring ‘immense shocks' to markets
Eddie Yue slams advanced economies' ‘unprecedented' accommodative monetary policy for creating global imbalances and fuelling Hong Kong asset prices
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Asian central bank FX reserves not properly recognised by rating agencies, says Sheng
CBRC adviser and former Hong Kong SFC chief Andrew Sheng points to inconsistent approach in sovereign debt ratings; doubts international crisis co-ordination is possible
Hong Kong launches renminbi Hibor fixing
New offshore benchmark rates to be produced starting next week; HKMA to provide oversight and surveillance of contributing banks' internal systems to ensure 'integrity' of submissions
HKMA's Chan identifies inherent flaws in risk models
HKMA chief questions the use of financial models in risk management; argues the inability of models to account for irrationality is a major defect
HKMA deputy looks to eurodollar model for offshore RMB development
Eddie Yue says offshore RMB market is facing ‘historic transition'; calls for more offshore intermediation and ‘continued relaxation' of RMB flows in and out of China
Hong Kong consolidates dominance as offshore RMB hub
HKMA annual report shows continued rapid rise in renminbi trade flowing through Hong Kong; new Hibor fixing seen as latest manoeuvre to stay ahead of competition
Hong Kong to launch offshore renminbi benchmark rates
Treasury Markets Association plans to introduce a range of offshore renminbi interbank rates, to ‘spearhead’ development of offshore renminbi markets
HKMA report tells investors to brace for volatile financial cycle
Financial stability report says risks from property market volatility have continued to mount; central bank says macro-prudential policy is doing its job but there could be a sudden price reversal
Chan blames QE as HKMA raises macro-prudential defences
HKMA tightens macro-prudential rules applied to mortgage lending in face of emerging property market risks; Norman Chan says quantitative easing has created ‘extremely unusual’ conditions