Hong Kong Monetary Authority (HKMA)
HKMA’s Yue on consumer education and protection
Market players, regulator and consumers all have roles to play to ensure that trust remains in financial services, says Hong Kong deputy chief executive
QE ‘relief’ no substitute for deleveraging, says HKMA’s Chan
HKMA chief executive warns asset price growth must be supported by structural developments
HKMA will honour Basel III deadline, says executive director
Karen Kemp says Hong Kong’s banks will not be put at a competitive disadvantage by implementing new capital standards before US and EU
Hong Kong regulator cautious about CoCos
The HKMA is unconvinced about banks issuing contingent convertible instruments, according its deputy chief executive, Arthur Yuen
Stronger governance recommended for Hibor
Review of Hong Kong interbank offered rate finds no abuse in fixing process, but new code of conduct put forward to fortify governance
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
Local trade repositories are necessary, say HKMA’s Lee
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
Hong Kong set to meet Basel III deadline as others struggle
Hong Kong to put final Basel capital requirements legislation in place by January 1 deadline, as most other countries struggle to hit G-20 deadline
‘Soft power’ is key to international success, says HKMA’s Chan
HKMA chief executive says soft power is central to improving international financial centres; institutions’ culture is integral in this
Conundrum facing reserve managers set to continue, say Nalm speakers
Central bank reserve managers to face further challenges about where to allocate their resources as reserve levels look set grow
HKMA seconds director-general for enforcement
Division head of banking supervision promoted to executive director for enforcement after announcement that Raymond Li will be seconded to the Hong Kong Mortgage Corporation
HKMA imposes tighter property loan guidelines
The HKMA details new guidelines aimed at borrowers with multiple property mortgages; seeks to restrict the amount of debt individuals can acquire
HKMA deputy dismisses yuan competition fears
Competition in the offshore renminbi market offers opportunities that can be exploited to increase Hong Kong’s share of the market, says Eddie Yue
Tributes to the governor that never was (Andrew Crockett, 1943-2012)
Bank of England, BIS and IMF heads pay respects to policymaker Andrew Crockett, who died this week. Crockett described as the governor ‘that never was’ and the ‘midwife’ to the HKMA
HKMA moves to improve retail payments system
Hong Kong unveils a three-pronged approach to improve payments system; targets transfers denominated in renminbi as well as the Hong Kong dollar
HKMA names Huo as new PBoC advisor
Huo Yingli will take over from Mu Huaipeng as the PBoC official seconded to offer financial co-operation assistance between China and Hong Kong
HKMA re-appoints Standard Chartered as euro settlement institution
Standard Chartered Bank given a third five-year contract to run the euro real-time gross settlement system in Hong Kong; commended for operating the system “smoothly and effectively” since 2003
Asian central banks press ahead with OTC derivatives reform
Reserve Bank of India launches OTC derivatives trade repository; HKMA reveals results of consultation on derivatives regulation
China moves to promote offshore renminbi trade
HKMA welcomes new Chinese government measures to support growth of offshore renminbi business in Hong Kong; central banks buy $315 million of offshore renminbi bonds
New microfinance scheme launched in Hong Kong
Microfinance scheme to be run by Hong Kong Mortgage Corporation in collaboration with banks and non-government organisations; follows joint study with Hong Kong Monetary Authority last year
HKMA unveils new phase of cross-border settlement platform
Hong Kong and Malaysian central banks to add cross-border collateral management service to settlement platform to promote growth in 'underdeveloped' Asian repo markets
HKMA’s Chan on Hong Kong as private banking hub
Norman Chan says Hong Kong is 'exceptionally well-placed' to become leading Asian private banking hub; warns that regulatory framework cannot afford to remain static
HKMA deputy on Hong Kong as centre of renminbi growth
Eddie Yue, deputy chief executive of the Hong Kong Monetary Authority, describes rapid growth of renminbi as international currency; emphasises central role of Hong Kong in renminbi trade
Chan highlights ‘strong business case’ for renminbi use
Norman Chan tells a conference in Tokyo that payments in renminbi can increase the efficiency of growing trade activity between Japan and China