Hong Kong
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 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
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
Singapore and Thailand sign cross-border collateral MoU
Monetary Authority of Singapore and Bank of Thailand sign agreement to establish cross-border collateral arrangement; aims to promote financial stability in both countries
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
Renminbi to shake up the reserves management status quo
China is unlikely to fully liberalise its currency controls during the next five years. But this does not look set to prevent the renminbi from achieving full reserve currency status. By Gary Smith
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
HKMA strikes a cautious note on territory’s banking sector
Hong Kong Monetary Authority concerned about continued credit expansion in the territory and contagion risk from the European sovereign debt crisis
HKMA settles on staff pay increase
Hong Kong Monetary Authority decides to raise staff wages by more than 5%; constitutes a larger increase than was awarded in 2011
HKMA bulletin reveals liquidity pressures
Funding costs for banks rise amid tougher international climate as renminbi debt market expands, says HKMA Quarterly Bulletin and Half Year Financial Stability Report
Hong Kong to launch new microfinance pilot scheme
Hong Kong Mortgage Corporation says it plans to issue up to HK$100 million worth of loans as part of three-year long trial
Financial conditions ripe to relax renminbi rules, says HKMA’s Chan
Hong Kong Monetary Authority chief executive Norman Chan says continued growth of Hong Kong's offshore renminbi market has paved the way for more relaxed regulatory requirements
Avoid short-term ‘euphoria’ of excessive leveraging: HKMA’s Chan
Norman Chan, chief executive of the Hong Kong Monetary Authority, calls excessive leveraging the 'root cause' of the global financial crisis; tells of Asian experiences of crises
China and Hong Kong double currency swap agreement
Hong Kong and China double currency swap arrangement; Hong Kong pushes to remain number one offshore renminbi business centre while China proceeds with internationalisation of renminbi
HKMA’s Lau lays out strategy for regulating OTC derivatives
Hong Kong Monetary Authority executive director Edmond Lau says Hong Kong over-the-counter derivatives regulation must meet international standards
HKMA’s Chan happy with pace of renminbi internationalisation
Norman Chan accepting of need to test the offshore market with step by step internationalisation of renminbi; urges banks to get ready for trade using Chinese currency
Hong Kong regulator moves to authorise renminbi products under RQFII
Hong Kong regulatory platform ready to approve RQFII products; China’s central bank says priority to be given to Hong Kong-based subsidiaries of mainland banks and fund managers