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 to rename ‘virtual banks’ to ‘digital banks’
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.
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.
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