Hong Kong
China rejects US threat on yuan
A threatened US bill which would give China six months to revalue its exchange rate before facing sanctions was criticised by the Foreign Ministry as the wrong way to handle the situation.
Hans Genberg appointed Executive Director at HKMA
The Hong Kong Monetary Authority announced on Monday 24 January the appointment of Hans Genberg as Executive Director in charge of research with effect from 7 February.
Hong Kong's latest foreign currency reserves
The Hong Kong Monetary Authority (HKMA) announced on Friday 7 January that the official foreign currency reserve assets of Hong Kong amounted to US$123.6 billion at the end of December 2004, up from US$121.5 billion at end-November 2004.
HKMA's Yam says dollar may become less popular
The dollar may become ``less popular'' as a reserve currency should record U.S. current-account and budget deficits persist, said Joseph Yam, chief executive of the Hong Kong Monetary Authority in an article published by the HKMA on Thursday.
HKMA Quarterly Bulletin, December 2004
The Hong Kong Monetary Authority has published the December 2004 issue of its Quarterly Bulletin. This issue contains the regular Half-Yearly Monetary and Financial Stability Report, which analyses recent external and domestic influences on Hong Kong's…
Hong Kong's Yam on cb authority and transparency
In a speech on 'Central bank authority, accountability, transparency and effectiveness' given on 18 November, Joseph Yam of the Hong Kong Monetary Authority said there has been a shift in the approach to transparency in recent years, from a broad…
HKMA's Topping on liquidity risk management
In a speech on 'Liquidity risk management: A regulator's view' given on 16 November, Simon Topping of the Hong Kong Monetary Authority said central to effective liquidity risk management is a bank's ability to maintain adequate liquidity in the event of…
HKMA's Yam says yuan likely fixed for long time
Joseph Yam, chief executive of the Hong Kong Monetary Authority, said in a speech that China is unlikely to relax controls that keep its currency tied closely to the US dollar until after it manages a soft landing for its overheated economy.
HKMA's Yam on the challenges of an emerging Asia
In a speech on 'The financial stability challenges of an emerging Asia' given on 25 October, Joseph Yam of the Hong Kong Monetary Authority gave one of the most high-profile endorsements of an Asian monetary union, saying countries in the region should…
New Hong Kong banknotes
The Hong Kong Monetary Authority (HKMA) announced Sunday 10 October that the remaining three denominations, $20, $50 and $1,000, of the new series of Hong Kong banknotes will be put into circulation from 11 October 2004.
HKMA's Topping on challenges under Basel II
In a speech on 'The critical challenge facing banks and regulators under Basel II' given on 28 September, Simon Topping of the HKMA said the main objectives of Pillar 2 are to ensure banks have adequate capital to support all the material risks in their…
HKMA calls for safety deposit box inquiry
The Hong Kong Monetary Authority (HKMA) announced on Wednesday 6 October that it has required DBS Bank (Hong Kong) Ltd to carry out a thorough investigation into the recent destruction of rented safe deposit boxes at its Mei Foo branch.
HKMA promotes public awareness of new banknotes
The Hong Kong Monetary Authority (HKMA) said on Monday 27 September that its education campaign on the new series banknotes is making good progress. The main aim of the campaign is to promote public awareness of the security features of the remaining…
HKMA Quarterly Bulletin, September 2004
The Hong Kong Monetary Authority has published the September 2004 issue of its Quarterly Bulletin. The latest issue includes an article "International reserve holdings - Are financial centres different?" - examining the relationship between reserve…
HKMA's Yam on century-old treasures
In a speech on 'Century-old Treasures' given on 2 September, Joseph Yam of the HKMA officiated at the launch of a special set of 'Hong Kong Currency' stamps. He said this is a particularly memorable occasion as it is the first time that Hong Kong has…
HKMA's Topping on latest perspective on Basel II
Speech by Simon Topping, Executive Director, Banking Policy, Hong Kong Monetary Authority at the City University of Hong Kong Professional Seminar on Latest Perspective on Basel II, 19 July 2004.
HKMA's Yam on the case for an Asian Bond Market
In a speech on 'The Case for an Asian Bond Market' given on 8 July, Joseph Yam of the HKMA said collectively and individually, central banks and governments are making good progress on a variety of initiatives aimed at reducing barriers, building…
New Hong Kong banknotes
The Hong Kong Monetary Authority (HKMA) and the three note-issuing banks (Bank of China (Hong Kong) Limited, Standard Chartered Bank (Hong Kong) Limited and The Hongkong and Shanghai Banking Corporation Limited) announced on 5 July the issue and unveiled…
HKMA's Yam on banking sector risks and challenges
In the speech 'Banking sector risks and challenges' given on 16 June Joseph Yam of the HKMA said drew attention to five processes that are likely to have an impact on the banking industry in the future. Each of these will have a different degree of…
When Hong Kong trounced the speculators
The HKMA beat back speculators in 1998, but did its own fuzzy rules encourage them? Charles Calomiris reviews a new book on this famous episode.
HKMA's Topping on financial risk
In a speech on 'Assessing, Managing & Supervising Financial Risk' given on 17 May, Simon Topping of the HKMA said Basel II is certainly relevant to emerging markets. It has global applicability, but it has to be applied pragmatically, he said, and fine…
Hong Kong Monetary Authority - Annual Report 2003
The Hong Kong Monetary Authority has published its Annual Report for the year ended 2003. After six years of difficulty and uncertainty, Hong Kong's economy experienced a strong rebound in the second half of 2003 and this rebound has continued its…
HKMA releases pay review details
The Hong Kong Monetary Authority (HKMA) has announced the result of its annual pay review for staff of the HKMA in 2004.
Return and volatility spillovers In Hong Kong
Laurence Fung and Ip-wing Yu discuss the effects of return and volatility spillovers in Hong Kong financial markets.