Hong Kong
HKMA official not optimisic about Exchange Fund
HONG KONG - A Hong Kong Monetary Authority official said she was not optimistic about the investment return of the territory's Exchange Fund for 2001 because of volatility in the U.S. stock market.
Permanent accommodation for the HKMA
ARTICLE - Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly column on the HKMA website, says that the strong reaction from some politicians about the planned purchase, through the Exchange Fund, of a permanent office for the…
Tsang fights for Exchange Fund independence
HONG KONG - Financial Secretary Donald Tsang has rejected the Democratic Party's request to freeze a Hong Kong Monetary Authority plan to spend HK$4 billion from the Exchange Fund on new offices.
HKMA - Fiscal Reserves and the Exchange Fund
ARTICLE - Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly column on the HKMA website explains how the exchange fund and the government's fiscal reserves are managed and invested together, while emphasising that they are two…
Iran plans to tap capital markets for funds-cbank
IRAN - Iran is talking to foreign banks with a view to raising money on the international capital markets "when the time is right", the central bank governor, Mohsen Nourbaksh, said on Apr 16.
HK to fully deregulate interest rates in July 2001
HONG KONG - The Hong Kong Monetary Authority said Apr 9, 2001 the territory's interest rates will be fully liberalized when the deregulation that covers Hong Kong dollar savings and current accounts goes ahead as scheduled July 3.
The Adequacy of Hong Kong's Foreign Reserves
HONG KONG - Experience suggests that Hong Kong needs considerably more in foreign reserves than the bare theoretical minimum to maintain currency stability, says Joseph Yam, chief exexcutive of the Hong Kong Monetary Authority in his weekly viewpoint…
Hong Kong Exchange Fund results for the year 2000
HONG KONG - The Hong Kong Monetary Authority announced on Mar 30, 2001 the operating results of the Exchange Fund for the year 2000, with profits hit by a volatile investment environment.
HKMA Joseph Yam updates his cyberfable
HONG KONG - In March 2000, Joseph Yam, chief executive of the Hong Kong Monetary Authority, presented the first part of his popular satirical internet story. In his weekly viewpoint column published on the HKMA website today, Yam brings up to date with…
HKMA to buy office space rather than rent
HONG KONG - Hong Kong's quasi central bank on Mar 29, 2001 defended a plan to buy 14 floors in a building in the city's center for its new offices, saying the move will be cheaper than to continue renting.
Banking Supervision-HKMA Yam viewpoint
CENTRAL BANK ARTICLE - Effective banking supervision requires taking a larger view of the industry than simply focussing on the ability of borrower to repay, says Hong Kong Monetary Authority chief executive Joseph Yam in his weekly column on the HKMA…
Basel Accord major challenge for Asia banks-HKMA
Recent proposals aimed at strengthening the global financial system pose a major challenge for banks and regulators in Asia, the Hong Kong Monetary Authority said on Mar 13, 2001.
BIS sets up Asia-Pacific consultative council
The Bank for International Settlements (BIS) said on Mar 12, 2001 it had set up an Asian Consultative Council comprising governors of its central bank members in the region.
China seeks HK expert to join central bank
China's Premier Zhu Rongji is seeking a Hong Kong banker to become a deputy governor of the country's central bank, a move which analysts say shows Beijing is serious about beefing up its regulatory control of the banking sector.
B-shares and China's monetary and banking systems
The removal of restrictions on the holding of B-shares should have a generally positive effect on the development of Mainland China's monetary and banking systems, says Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly…
Financial Markets on the Mainland-HKMA Joseph Yam
Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly viewpoint column published on the HKMA website, says that financial markets in emerging markets need careful sequencing in reforms. Recent developments suggest that the…
Why is domestic lending in Hong Kong sluggish-HKMA
Why does domestic lending continue to be so sluggish in Hong Kong when the economy is making such a vigorous recovery, asks Joseph Yam, chief executive of the Hong Kong Monetary Authority, in his weekly "Viewpoint" column published on the HKMA website.
Grey Areas in Central Banking- HKMA's Joseph Yam
How far should the HKMA involve itself in two grey areas that are receiving an increasing amount of public attention: consumer protection in the banking industry, and the development of retail payment systems? Joseph Yam, chief executive of the Hong Kong…
BIS urges vigilance on asset bubbles
It's time for central bankers to get tough on bubbles, according to a top official at the Bank for International Settlements. Overly high stock and property prices should prompt central bankers to take interest rate action in the same way rising wage…
HKMA Background Brief No.1: HK Linked ER System
Since 1983 the Hong Kong dollar has been linked to the US dollar at the rate of HK$7.8 to one US dollar. The link is maintained through the operation of a strict and robust currency board system. This booklet published by the Hong Kong Monetary Authority…
BIS cbankers expect world economy to pick up
Central bankers meeting in Hong Kong on Feb 12, 2001 agreed that the global economy is now slowing but will return to growth in the second half of 2001, said an official who briefed reporters. Andrew Crockett, general manager of the Bank for…
BIS to host 17 cbank officials in HK Feb 12
The Bank for International Settlements plans to host officials of 17 central banks in Hong Kong on Feb 12, 2001. An official of the Basel-based institution said the central bankers will discuss both the global economy and the strengthening of financial…
Slowdown in the US Economy- HKMA's Joseph Yam
The suddenness of the recent slowdown in the US economy has taken many by surprise. But policymakers have plenty of scope for turning this inevitable adjustment into a more sustainable growth path. By Joseph Yam, chief executive of the Hong Kong Monetary…
HK Exchange Fund may profit despite stocks, euro
Hong Kong's Exchange Fund of financial reserves may show only a modest profit this year due to a substantial fall on the local stock market and a sharp drop in the euro , the de facto central bank said on Dec 28, 2000.