'Keep it simple' says Hong Kong's Yam

In a speech at the Global Bond Summit in Hong Kong this week, Joseph Yam, Chief Executive of the Hong Kong Monetary Authority, identified "possible directions to be explored" by the Asian Bond Fund.

First, the scope of credit acceptable to the central banks as investors need to be enlarged, while addressing the problem of inadequate credit quality through credit enhancement or guarantee arrangements. Second, bank assets needed to be securitised.

"We favour simple products that can be readily

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