Hong Kong Monetary Authority
The Hong Kong Monetary Authority is the government authority in Hong Kong responsible for maintaining monetary and banking stability. Its main functions and responsibilities are governed by the Exchange Fund Ordinance and the Banking Ordinance and it reports to the Financial Secretary.
See below for the Latest Hong Kong Monetary Authority News, Analysis, Profit Results, Share Price Information, and Commentary.
3 Hongkongers land on Forbes Asia's Power Businesswomen 2024
3 Hongkongers land on Forbes Asia's Power Businesswomen 2024
The youngest is Stephanie Lo, vice chairman of Shui On Land.Three Hongkongers were included in Forbes Asia’s Power Businesswomen 2024 for being the first women to step into their roles in their companies.The youngest of the three is Stephanie Lo, vice chairman of Shui On Land. Lo assumed the role in May, overseeing the China-focused property development arm of the Shui On Group, founded by her father, Vincent Lo.Also on the list is Clara Chan, CEO of Hong Kong Investment Corporation (HKIC). Prior to HKIC, Chan was a manager of direct investments at the Hong Kong Monetary Authority in 2010 where she handled the $39b bailout of Cathay Pacific during the pandemic.The third Hongkonger is Bonnie Chan, CEO of Hong Kong Exchanges and Clearing, who has overseen a notable increase in listings this year. In the second quarter, 18 companies went public compared to 12 in the first, raising 79% more funds.
4 in 5 SMEs report easier bank credit approvals in Q3
Some, however, said the process was more difficult.
FCC Analytics taps Airstar and livi bank for federated learning AML
The initiative aims to enhance interbank cooperation whilst maintaining data privacy.
Hang Seng Bank eyes Middle East expansion
Its two subsidiaries already have collaborations planned in Saudi Arabia.
HSBC, Ant Int’l complete HKD cross-bank test transactions
The use case integrates HSBC and Hang Seng’s networks with Ant’s Whale platform.
HKMA issues RMB1b 3-year bonds at 2.13%
The bonds received RMB7.212b tender applications.
Over 97% of Hong Kongers trust digital banks’ security measures
Digital bank account holders are willing to open more accounts with other digital banks.
HKMA, banks launch new measures to boost SME financing and support
The initiative will launch five new measures.
2024 Policy Address: HKMA to adjust LTV ratio for all properties to 70%
Meanwhile, the maximum debt servicing ratio for properties will be 50%.
Hong Kong’s foreign assets decreased to $3.49t
Foreign liabilities stood at $26.6b.
Hong Kong to rename ‘virtual banks’ to ‘digital banks’
The bank will set-out new guidelines shortly.
Mortgage loans down 12.2% to $21.8b
Applications also fell by 12.2% MoM to 5,919.
Hong Kong deposits see modest growth in August, up 1.1% YoY
Year-to-date, total deposits have grown by 5.0%.
OTC derivatives reporting rules updated as HKMA, SFC conclude consultation
This initiative supports G20's commitment to reforming OTC derivative markets.
HKMA launches Phase 2 of e-HKD pilot programme
Mastercard, Airstar Bank and Kasikornbank will be participating.
Hong Kong stored value transactions up 4.6% in Q2
A total of 2 billion transactions were made between April to June 2024.
Bank of Singapore flags fraudulent app
It has reported the matter to the Hong Kong police.
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Commentary
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