Hong Kong

New Hong Kong banknotes

The Hong Kong Monetary Authority has announced the forthcoming issue of a new series of Hong Kong banknotes in 2003 and 2004. A number of advanced security features have been added to the new banknotes to enhance their anti-counterfeiting capabilities,…

HKMA signs memorandum of understanding

The Hong Kong Monetary Authority and the China Banking Regulatory Commission signed a Memorandum of Understanding on 25 August. The Agreement will allow the sharing of supervisory information.

HKMA's Yam at the HKIMR Summer Workshop 2003

In his Opening Remarks to the HKIMR Summer Workshop 2003 given on 27 August Joseph Yam of the Hong Kong Monetary Authority said the organisers have put together an interesting programme with three papers dealing with issues that are of current or…

Topping on Basel II : Implications for Hong Kong

In the speech 'Basel II : Implications for Hong Kong' Simon Topping of the Hong Kong Monetary Authority said Basel II is not some abstract regulatory compliance issue of no real value to the banking industry. On the contrary, it's based very much on…

''Economic ideas on Asia should be from Asians''

Hong Kong Securities and Futures Commission chairman Andrew Sheng told reporters that Asian economic ideas should ideally originate, be written and discussed by Asians rather than rely on Western economists, the buisness Times reported.

BOC head quits posts in H.K. amid inquiry

Former chief executive of Bank of China's Hong Kong unit, Liu Jinbao, has stepped down from his positions at the Hong Kong Stock Exchange and at the Hong Kong Monetary Authority as its exchange fund advisor, Bloomberg reports.

HKMA Quarterly Bulletin, June 2003

The Hong Kong Monetary Authority (HKMA) on 12 June published the latest issue of its Quarterly Bulletin. This issue contains four feature articles including 'The Impact of Interest Rate Shocks on the Performance of the Banking Sector' which provides an…

Hong Kong launches euro clearing system

Hong Kong launched its euro clearing system on Monday 28 April with the aim of eliminating Herstatt risk in foreign exchange settlements, according to Reuters.

HKMA's Euro Clearing System goes live

The Hong Kong Monetary Authority's new Euro Clearing System will process its first transaction on 28 April. The key functions of the Euro Clearing System will include an interbank Real Time Gross Settlement (RTGS) system.

HKMA Pay Adjustments 2003

The Hong Kong Monetary Authority (HKMA) announced on Thursday March 27 that the pay adjustments for staff of the HKMA would take effect in April 2003. The changes include a further reduction of just over 5% in fixed pay for Chief Executive Joseph Yam.

Carse: how the HKMA tackles money laundering

In a speech "The Fight Against Money Laundering and Terrorist Financing - The HKMA Viewpoint" delivered on March 17, David Carse, deputy chief executive, outlined Hong Kong's approach to combatting financial crime.

Banking - Hong Kong style

BOOK - The HKMA yesterday published the second of a series of background briefs designed to explain the workings of Hong Kong's monetary and banking systems. "Banking Supervision in Hong Kong" describes the main features of Hong Kong's banking system and…

HKMA Quarterly Bulletin, March 2003

The Hong Kong Monetary Authority's Quarterly Bulletin for March 2003 includes articles on the 'External Demand for Hong Kong Dollar Currency' and 'Alternative Measures of the Real Effective Exchange Rate'.

Joseph Yam appointed Chairman of the BIS ACC

The Board of Directors of the Bank for International Settlements (BIS) on Monday 10 March announced Joseph C K Yam as Chairman of the BIS Asian Consultative Council (ACC). Mr Yam is Chief Executive of the Hong Kong Monetary Authority.

HKMA Quarterly Bulletin, November 2002

REPORT - The Hong Kong Monetary Fund has published its Quarterly Bulletin for November 2002. The issue includes feature articles on 'The impact of China's accession to the World Trade Organisation on Asia', 'Preserving monetary stability in the face of…