Credit Card Lending Survey Results for First Quarter 2021

The Hong Kong Monetary Authority published today the credit card lending survey results for the first quarter of 2021. Total card receivables decreased by 4. 0% in the first quarter to HK$119. 8 billion at end-March 2021, as the effects of festive spending and salaries tax payment that had driven an increase of 3. 9% in the previous quarter subsided. The combined delinquent and rescheduled ratio edged up to 0. 36% at end-March 2021 from 0. 35% at the previous quarter-end. The quarter...

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US Dollar Liquidity Facility Tender Notice

Tender date : 18 May 2021 (Tuesday) Tender submission time : 9:00 a. m. to 12:00 noon Settlement date : 20 May 2021 (Thursday) Repayment date : 27 May 2021 (Thursday) Tenor : 7 Days Amount on offer : US$10,000 Million     Hong Kong Monetary Authority 14 May 2021     Note: Licensed Banks interested in participating in the tender for the first time are encouraged to provide US dollar settlement instructions by email ([email protected]

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Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)

May 2021 14 May 2021 Market operations Amendments to the Decision on the third series of targeted longer-term refinancing operations On 30 April 2021 the Governing Council adopted Decision (EU) 2021/752 (ECB/2021/21) amending Decision (EU) 2019/1311 on a third series of targeted longer-term refinancing operations (TLTRO-III Decision). The changes introduced (i) amend the sanctioning regime in case required reports and audits are not provided by TLTRO-III participants in time, (ii) include pro...

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Meeting of 21-22 April 2021

Account of the monetary policy meeting of the Governing Council of the European Central Bank held in Frankfurt am Main on Wednesday and Thursday, 21-22 April 2021 1. Review of financial, economic and monetary developments and policy options Financial market developments Ms Schnabel reviewed the financial market developments since the Governing Council’s previous monetary policy meeting on 10-11 March 2021. Euro area government bond yields had decoupled from US Treasury yields – which had con...

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The Central Bank of Uruguay ratifies the benchmark interest rate by 4.5% while keeping the expansional instance of monetary policy at the current juncture

The Central Bank of Uruguay (BCU), after the meeting of the Monetary Policy Committee (COPOM), decided to keep the benchmark interest rate (TPM) at 4. 5% accompanying the economic situation in the face of the pandemic generated by COVID-19. Once it is overcome, the current expansion of monetary policy will begin a gradual process of rising interest rates to consolidate the current convergence of inflation and expectations to the inflation target. The international scenario presents a further ...

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Care regime at the BCU until 23 May 2021

The Central Bank of Uruguay (BCU) maintains its usual operation but there will be no attention to the face-to-face public until 23 May 2021 under the health measures announced by the Presidency of the Republic.  In this sense, attention to the public is carried out only through the digital channels arranged for this purpose on the Website of the Institution.  The receipt of physical documentation for those formalities that require it is done through a mailbox arranged in the access to the buildi...

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Capital inflows bring significant real and financial benefits, risks can be managed: report

An increasing share of foreign capital is channelled through portfolio investors and other non-bank financial intermediaries, shifting the risks associated with capital flows. Improvements in emerging market economies' fundamentals increased the importance of cyclical factors as drivers of capital flows. While macro-prudential measures, occasional foreign exchange intervention and liquidity provision can help mitigate risks, they are no substitute for structural reforms. Richer data and...

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Speech: John Glen addresses Which? Cash Summit

Good afternoon everyone. It’s great to join you at the Which? Cash Summit. I’m particularly pleased to have the opportunity to update you on the great progress we’re making on our commitment to protect cash. Context But first, let me start off by setting out some context. I always think there’s something quite amazing about the fact that cash has been with us in some form for the best part of three millennia. In fact, there’s a remarkable similarity between the first coins made in Turkey b...

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The FCA and the Bank of England encourage market participants in a switch to SONIA in the sterling exchange traded derivatives market from 17 June

Statement A key milestone recommended by the Working Group on Sterling Risk-Free Reference Rates (‘the Working Group’) is to cease initiation of new GBP LIBOR exchange traded derivatives expiring after 2021 by end-Q2 2021, other than for risk management of existing positions. The Working Group milestones have supervisory backing from the PRA and FCA as set out in the recent ‘Dear CEO’ letter sent to regulated firms. To support market participants in meeting this milestone, the Working Group’s P...

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Guidance: Dormant Assets Bill: Factsheets

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