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.
Hong Kong central bank launches gen AI sandbox
Banks are encouraged to make full use of the sandbox.
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.
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.
Hong Kong, China ink MOU for linkage of fast payments systems
Central bankers also discussed financial cooperation between their markets.
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.
Hong Kong banks’ composite interest rate falls 4bp to 2.61% in May
This was due to a decrease in weighted funding cost for deposits during the month.
Hong Kong mortgage loans drawdown rises by 9.9%
This was translated to $1.69b in loans.
HKMA reports 2.2% rise in total bank deposits
Total remittance of RMB for cross-border trade settlement saw $176b.
Credit Data Smart ushers in new era of credit scoring in Hong Kong
It’s expected to promote healthy competition and improve credit knowledge of locals.
Hong Kong central bank extends deputy chief exec’s appointment for 2 years
Yuen will continue in his role for two more years beyond retirement age.
Commentary
Southeast Asia’s digital banks – the road from good to great
Reshaping fraud detection in Asian finance with knowledge graphs