Hong Kong Monetary Authority (HKMA)
HKMA pledges $1bn to IFC infrastructure platform
HKMA commits $1 billion of its Exchange Fund to International Finance Corporation’s syndicated loan platform to invest in infrastructure projects
Banks fear uneven playing field on NSFR
Asian jurisdictions are likely to implement the key liquidity metric before the US and Europe
HKMA eyes infrastructure investments in Belt and Road initiative
Hong Kong’s central bank plans to invest reserves to help meet Asia's $1.7 trillion annual infrastructure needs, focusing on countries engaged in China’s Belt and Road initiative
Bank resolution regime rolls out in Hong Kong
HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure; authority also plans to conduct a public consultation on loss absorbency
HKMA’s investment team “on guard” for turbulence later in the year
HKMA deputy chief executive warns of an undercurrent of market uncertainties in the second half of the year, after fund made record returns in the first half
HKMA’s Exchange Fund posts record high investment income
Strong performance in equities and currency effects drove record investment result in the first half of 2017
China-led Asian Financial Cooperation Association launches
AFCA aims to strengthen regional financial co-operation and participate in global financial governance
Book notes: The Tides of Capital, by Julia Leung
This “stimulating read” offers a unique perspective on how Asian countries have developed economically over the past 20 years. More interesting is Leung’s unintentional revelation that they still have a long way to go
HKMA tightens macro-prudential measures for second time in a week
Hong Kong authority imposes another round of mortgage tightening measures, targeting home buyers with multiple loans and those whose incomes are not derived from the territory
PBoC and HKMA announce Bond Connect scheme
The current phase only allows overseas institutional investors to invest in China's bond market
HKMA tightens restrictions on bank loans as risks rise
The city’s de facto central bank is trying to contain credit risk among banks as their exposure to housing developers is growing
HKMA investing in digital currency prototype
HKMA continues to build on its DLT research through digital currency venture with commercial banks; previous projects show potential to improve efficiency and transparency
HK researchers ask how much markets affect RMB fixing
Researchers test China’s assertion the exchange rate is now determined more by markets, finding mixed evidence
People: Wilkins part of new IMF fintech team; Kanungo appointed as RBI deputy
Bank of Canada deputy joins IMF’s new fintech group; new deputy governor to take office at RBI; and more
Defence and diversification key to fund success – HKMA deputy
Exchange fund is to continue diversifying into industries that can “counter” inflationary pressures, Yue says, as a challenging investment environment looks set to continue
Paper examines “puzzles” in monetary policy transmission
HKIMR paper highlights differences in monetary policy transmission between advanced and emerging markets; “puzzles” are more severe for emerging markets
HKMA launches fintech accelerator
In partnership with Astri, initiative will “nurture” talent to meet the growing need for fintech innovation in the region
Hong Kong proposes safeguards for contracts during resolution
Rules seek to protect some critical financial contracts during resolution without overly constraining resolution authorities
HKMA expands offshore renminbi liquidity scheme
List of banks provided with liquidity for offshore renminbi market-making grows, with extra measures designed to boost transparency
Asia resolution rules risk conflict with G-Sib home regulators
Branches fear local regulators could ask banks for confidential home market information
HKMA to launch cyber security training framework in December
New technology has made cyber security more important than ever, says Chan; HKMA to widen pool of talent as part of new initiative to be rolled out at the end of the year
HKMA researchers dig into persistent covered interest parity deviation
Authors posit forex swap dealers filter out counterparty risk from money market rates when setting swap prices; risk adjustment continues even in non-stressed periods
People: Philippines and Sri Lanka gain new monetary board members
Finance minister becomes member of Philippines’ monetary board; new joiner for Sri Lankan board; HKMA names executive director for financial infrastructure
HKMA opens office to stimulate infrastructure finance
Infrastructure financing facilitation office will be an “integral part” of the HKMA; designed to bring capital providers and project developers together along the ‘one belt, one road’