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.
PBOC and HKMA sign MOU on cross-boundary linkage of payment systems
They also exchanged views on financial co-operation between the Mainland and Hong Kong.
Foreign currency reserves hit US$419.3b in July
It rose from the US$416.3b record in June.
HKMA preparing law amendments for proposed two-tier bankings system
The central bank has published results of its consultation and new parameters added.
HKMA rules out new virtual banking licenses
Competition is keen in the market and enquiries have declined.
HK virtual banks' record 2.2 million depositors by end-2023
Hong Kong's eight licensed virtual banks experienced modest growth over the past three years.
Virtual banks in Hong Kong thrive with 2.2 million depositors in 2023
Hong Kong's eight licensed virtual banks experienced modest growth over the past three years.
Less Hong Kong SMEs find credit approval more difficult in Q2
But more SMEs now find securing debt “easier” as well.
Hong Kong banks expand fraud alert system to retail transactions
Customers will receive alerts for “high fraud risk” fund transfers, amongst others.
Eddie Yue reappointed chief exec of Hong Kong central bank
His annual fixed pay is $7.4m for the five-year term.
Hong Kong Mortgage Corp names Colin Pou as new CEO
Pou, who is an executive director at HKMA, will be seconded to HKMC.
DBS HK fined US$1.28m for anti-money laundering, review lapses
The bank failed to conduct due diligence in ‘high risk situations’ from 2012 and 2019.
Mortgage applications in HK fall 16.1% in May
However, the value of mortgages approved rose by 8.8%, according to official data.
Total deposits in Hong Kong up 1.1% in May
Loans registered a decline, however, according to central bank data.
HKIA finds firms adhere to new premium financing rule
However, the inspection also identified several areas needing improvement.
HKMA keeps base rate at 5.75%
It said that the high interest rate environment could persist for some time.
HKMA reports 2.2% rise in total bank deposits
Total remittance of RMB for cross-border trade settlement saw $176b.
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