Hong Kong
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
HKMA stablecoin regulations take effect amid ‘market euphoria’
Markets eye further gains as Hong Kong’s de facto central bank tries to damp down ‘bubble-like trend’
HKMA to cut budget and freeze headcount – media report
De facto central bank could be latest to join belt-tightening campaign by Hong Kong institutions
HKMA chief tries to temper stablecoin expectations
Yue says territory’s regulations will be tight and short-term profitability for first issuers is not guaranteed
HKMA dismisses reports it will establish ‘bad bank’
Monetary authority says lenders’ balance sheets are healthy and their credit risks well managed
Hong Kong’s FX interventions came at right time, say economists
Experts believe the resulting fall in interest rates has provided welcome stimulus
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Ex-OCC chief urges new approach to AI explainability
Michael Hsu suggests shift from academic analysis to decision-based techniques
HKMA taps GenAI to monitor shadow banking risk
News headlines, social media and bank earnings calls all followed using in-house tools
Hong Kong intervenes once again to protect currency peg
Intervention is HKMA’s second at weak end of HKD/USD band in less than a week, with more likely
HKMA inks agreement with AIIB on Asian EM investment
Hong Kong says agreement will support “green and technology enabled-infrastructure” in region
Hong Kong intervenes to protect currency peg
HKMA sells US$1.2 billion at HK$7.85 to the dollar as local currency hits weak end of FX band
Hong Kong and Ireland to ease cross-border investment
Funds domiciled in one jurisdiction can be marketed to the other after regulators sign MoU
Hedge funds burned as Hong Kong dollar bets implode
However, market participants still seem satisfied with the HKMA’s commitment to defending currency peg
HKMA’s renminbi repo plans boost hopes for onshore access
Market participants optimistic that new provisions for offshore repos of onshore bonds are first step towards mainland access
Mainland China and Hong Kong deepen financial ties
PBoC and HKMA announce new measures to promote renminbi use
PBoC suspends government bond purchases
China's central bank moves after “persistent excess demand” causes yields to hit record lows
PBoC to issue record amount of bills in Hong Kong
Central bank to auction 60 billion yuan of bills in territory amid weakening renminbi
Senior appointments in Australia and Hong Kong
RBA appoints heads of banking and economic research, while HKMA appoints financial infrastructure director
HKMA subsidises tokenised bond issuances
Issuers can receive up to HK$2.5 million each for maximum of two issuances
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
Crashing the nth party: how third-party service provider risks compound
Cross-border collaboration may help deal with risks from multiple layers of outsourcing
PBoC and HKMA to link up instant payment systems
Trial in 2025 will allow residents to make cross-border small-value transactions
Central bankers reflect on wins and challenges of mBridge
Multi-CBDC project’s transaction value has grown, but regulatory and operational issues remain