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.
Hang Seng Bank eyes Middle East expansion
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.
Over 97% of Hong Kongers trust digital banks’ security measures
Digital bank account holders are willing to open more accounts with other digital banks.
Hong Kong unveils sustainable finance action agenda
Banks are required to achieve net zero in their operations by 2030.
Hong Kong to rename ‘virtual banks’ to ‘digital banks’
The bank will set-out new guidelines shortly.
HK central bank, banking assoc express support for banking integrity charter
The HKMA and HKAB co-hosted the launching ceremony with ICAC.
Hong Kong deposits see modest growth in August, up 1.1% YoY
Year-to-date, total deposits have grown by 5.0%.
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.
Hong Kong, Macau establish direct link for bond clearing and settlement
Investors in Macao and Hong Kong will benefit from the arrangement.
HKMA suspends banker for signature forgery on deposit form
He photocopied a customer's signature on a time deposit application form.
Hong Kong fines WeChat Pay HK for legal breaches
WeChat Pay Hong Kong self-reported the case.
BOCHK warns against suspicious SMS messages
It reminded customers that it will only send messages starting with a “#”.
Hong Kong central bank launches gen AI sandbox
Banks are encouraged to make full use of the sandbox.
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.
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Nearly 8 in 10 MSMEs still face barriers to accessing loans, an expert said.
Commentary
Why high capital levels are a double-edged sword for Singapore banks