Hong Kong
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
Banxico deputy says stagnant TFP 'by far' economy's biggest problem
While TFP in China has increased dramatically since the 1980s, in Mexico it has remained ‘basically flat', notes Manuel Sanchez
Shanghai-Hong Kong Stock Connect to go live next week
Securities regulators unveil final launch date after delays upset markets last month; scheme will allow direct trading of Chinese and Hong Kong stocks within certain limits
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’
Ex-HKMA chief: China may punish Hong Kong for protests
Joseph Yam warns Hong Kong might be sidelined as a financial centre if protests continue, as Occupy Central movement enters its second month on the streets of Hong Kong
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
The global financial architecture is broken
Central banks have taken over from Bretton Woods institutions in a multipolar world where actors are increasingly fearful of dealing in G-4 currencies, writes Andrew Sheng
Andrew Sheng says international monetary system is fundamentally flawed
Former chairman of Securities and Futures Commission says the world is breaking up into national currency blocks, and the revival of ‘Cold War 2.0’ makes it difficult to fix
Hong Kong protests trigger emergency action by HKMA
HKMA activates its business continuity plan and takes extraordinary measures to maintain stability as thousands of pro-democracy protesters take to the streets
Hong Kong's first Islamic bond raises $1bn
Five-year sukuk sells at ‘tightest spread ever achieved’ over US Treasuries; strong demand from across the globe sees orders in excess of $4.7 billion
Europe doubles RMB transactions with Greater China in one year
European hubs fuel growth in renminbi usage with 10% share of global payments, after major financial hubs sign swap agreements with the People's Bank of China
HKMA's Chan will champion Hong Kong's asset management industry
Norman Chan calls on officials to ‘put our heads together’ and figure out how to attract more ‘upstream’ asset management activities to Hong Kong
Chan says Hong Kong has nothing to fear from further mainland liberalisation
Competition from Shanghai 'not a zero sum game' says HKMA head; rather, further internationalisation of the renminbi will create a 'bigger pie'
HKMA chief rejects use of $400bn fund for social purposes
Norman Chan says the HKMA’s exchange fund is the ‘last line of defence’ for financial stability and should be maintained as a buffer against ‘unforeseeable shocks and crises’
Hong Kong and Thailand link settlement systems
New link will ensure the simultaneous delivery of US Dollars in Hong Kong and Thai Baht in Thailand; HKMA’s Peter Pang says it creates a ‘safer’ environment for settling forex transactions
Balance between Hong Kong and Singapore ‘vital’ for financial stability
Researchers at the IMF find Hong Kong and Singapore complement each other as financial centres because they specialise in different markets and clienteles
HKMA chief deems macro-prudential measures a success
Norman Chan points to cooling property market as evidence of the HKMA’s success with macro-prudential tools, but highlights concern over total loan growth in annual report
Hong Kong banks' mainland exposure ‘not all hot money' says HKMA deputy
The right way to mitigate Hong Kong banks' exposure to mainland China is through supervising their credit risk and liquidity risk management, says Arthur Yuen
Offshore renminbi has increasing impact on Asian exchange rates
How long the independent impact will last will likely depend on China's progress in liberalising its capital account, according to working paper from the Bank for International Settlements
Chan wins another five-year term atop HKMA
HKMA chief executive praised by Hong Kong government for his steady hand on the tiller throughout the financial crisis and developing Hong Kong as an offshore renminbi centre
HKMA rebukes UBS over attempts to rig Hibor
Hong Kong central bank finds six traders at UBS tried to influence the bank’s Hibor submissions between 2006 and 2009; demands remedial action
HKMA backs public ownership as resolution tool
Proposals for new resolution regime in Hong Kong include the temporary public ownership of failed financial institutions in the proverbial toolbox
HKMA launches ‘hassle-free’ electronics payments platform
Hong Kong Monetary Authority says the platform will enable the general public to receive, manage and schedule electronic payments in three different currencies through one portal
Chan laments lessons left unlearned from financial crisis
Hong Kong Monetary Authority chief executive Norman Chan says he will continue warning against excess levels of debt, even though it is now widely seen as part of the solution to the crisis