Hong Kong Monetary Authority (HKMA)
HKMA prepares cyber security ‘fortification’
Monetary authority seeks to build a framework for assessing cyber risks as well as providing training and building infrastructure for sharing “threat intelligence”
‘Challenging' year spurs diversification of Hong Kong's exchange fund
HKMA says it is accelerating its process of reserves diversification after it was hit by a "triple whammy" in all major asset classes in 2015
Peter Pang retires as HKMA deputy
Pang, one of three deputy chief executives, retires after more than 10 years in the role; he will be succeeded by Howard Lee, but responsibility for research passes to Eddie Yue
People: Philadelphia Fed names first VP; five new vice presidents at AIIB
James Narron named vice-president and COO of Philadelphia Fed; five new vice-presidents join executive team at AIIB; and more
Analysts see Hong Kong peg under scrutiny
Hong Kong dollar reached lowest level in nearly a decade this week, putting long-standing peg ‘under fresh scrutiny' and prompting fears of possible attack
US, China trends put Hong Kong in potential tough spot, warns IMF report
Housing prices have tripled since 2008 and could face correction as result of slowdown prompted by outside pressures
HKMA to raise countercyclical buffer by maximum in 2017
Hong Kong Monetary Authority will raise banks’ counter-cyclical buffers by the maximum amount in January 2017; risks still present in credit and housing market, Norman Chan warns
HKMA hikes rates as Asia takes Fed decision in stride
Hong Kong raises rates for first time in over nine nears as regional markets remain calm; Norman Chan warns of capital outflows and ‘possible shocks' ahead
HKMA promotes 'entirely paperless' e-cheques in PR push
Central bank to raise awareness through multimedia infomercials ahead of December 7 launch; e-cheques will lead Hong Kong into new era of electronic payments, says HKMA deputy
Asia’s Basel III woes
New bank capital rules are bridling Association of Southeast Asian Nations banks with regulations tailored to European and American risk profiles, and may be contributing to a slowdown in growth
Hong Kong authorities look to bring shadow banks into resolution regime
Plans for resolution regime are advancing, with legislation expected by the end of the year; unregulated financial institutions can still be covered by the regime
HKMA introduces ‘major' piece of financial infrastructure to facilitate China flows
New routing and settlement service will underpin mutual recognition of funds initiative launched July 1; will enhance Hong Kong's role as ‘leading asset management centre', says Pang
Chan wants Canadian firms to access China through HK
HKMA chief executive says Canada should ‘leverage on’ Hong Kong’s unique access to mainland capital markets in Toronto pitch
Second Hong Kong sukuk oversubscribed by 100%
Five-year Islamic bond hits home with investors, including central banks, pushing coupon below 2% – 35 basis points above US Treasuries with same maturity
Hong Kong 'coin carts' rake in cash
Hong Kong Monetary Authority trucks will collect coins from the public; so far, 87,000 people have traded in 78 million coins worth HK$77 million
People: NY Fed names first vice president; HKMA promotes research head
Michael Strine succeeds Christine Cumming as first vice president at the Federal Reserve Bank of New York; Lillian Cheung becomes executive director for research in Hong Kong; and more
HKMA tightens housing rules as ‘buoyancy’ returns
Norman Chan points to ‘notable increases in prices and transaction volume’ as he unveils changes to the HKMA’s macro-prudential policies
Chan welcomes code of conduct for Hong Kong bankers
HKMA chief executive praises stricter code of conduct, which seeks to improve banking culture, promote competition and protect consumers
HKMA to introduce 'maximum' countercyclical capital buffer next year
Hong Kong will introduce Basel III tool at 0.625% of CET1 capital in January to guard against property market fallout; could raise it further in coming years if risks do not subside
People: Bulgarian deputy dismissed by parliament; HKMA appoints director
Bulgarian parliament dismisses central bank deputy governor over failure of a commercial bank; HKMA creates post of executive director for risk and compliance; and more
HKMA finds signs of forex manipulation at banks
Investigation into forex market manipulation turns up two cases of misconduct but finds no collusion between banks; six banks criticised for communication ‘indiscretions’
HKMA launches new liquidity facility
Discount facility for government bonds aims to provide greater flexibility for banks in meeting liquidity needs; HKMA also moves to ‘streamline’ bond tenors
HKMA revamps RMB liquidity operations to cope with 'phenomenal' growth in demand
Central bank to provide new intraday facility to cover rapid growth of renminbi payments in past year; seven banks designated ‘primary liquidity providers’
Banque de France and HKMA ink renminbi deal
Central banks seek closer ties to help develop renminbi business in Hong Kong and Paris; Christian Noyer hails the two cities as ‘among the most important’ for offshore renminbi trade