According to statistics published today (31 December) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0. 3% in November 2024. Among the total, Hong Kong dollar deposits decreased by 0. 9%, while foreign currency deposits increased by 1. 3% in November, mainly reflecting fund flows of corporates. In the year to end-November, total deposits and Hong Kong dollar deposits grew by 6. 1% and 1. 9% respectively. Renminbi deposits in Hong Kong increa...
Read MoreThe Hong Kong Monetary Authority announced the results of the residential mortgage survey for November 2024. The number of mortgage applications in November increased month-on-month by 9. 7% to 7,995. Mortgage loans approved in November increased by 27. 7% compared with October to HK$24. 2 billion. Among these, mortgage loans financing primary market transactions increased by 46. 2% to HK$7. 9 billion and those financing secondary market transactions increased by 20. 3% to HK$13. 7 b...
Read MoreThe Hong Kong Monetary Authority (HKMA) released today (31 December) the analytical data on the Hong Kong Special Administrative Region’s foreign currency reserves and foreign currency liquidity as at the end of November 2024 (Annex). These data are published monthly in the Template on International Reserves and Foreign Currency Liquidity in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS). Annex Hong Kong Monetary Authority 31 December 2...
Read MoreThe Hong Kong Monetary Authority (HKMA) announced today (31 December) that the total assets of the Exchange Fund amounted to HK$4,026. 7 billion as at 30 November 2024, HK$11. 6 billion higher than that at the end of October 2024. Foreign currency assets increased by HK$19. 8 billion while Hong Kong dollar assets decreased by HK$8. 2 billion. The rise in foreign currency assets was mainly due to mark-to-market revaluation of investments, interest income from investments and issuance of...
Read MoreThe second phase of the enhancement measures of the Deposit Protection Scheme (DPS) will come into effect tomorrow (1 January 2025), following the implementation of the first phase on 1 October 2024. 1 The enhancement measures that will come into effect tomorrow include: providing enhanced coverage to affected depositors upon a bank merger or acquisition; and requiring Scheme members to display the DPS membership sign on their electronic banking platforms. Ms Connie Lau Yin-hing, ...
Read MoreThe Hong Kong Monetary Authority (HKMA) wishes to alert members of the public in Hong Kong that: Saqs Investment as referred to on the website of https://www. saqsinvestment. com/ does not have the Monetary Authority (MA)’s authorization under the Banking Ordinance (the Ordinance) to carry on banking business, or the business of taking deposits, in Hong Kong; and it does not have the approval of the MA to establish a local representative office in Hong Kong under the Ordinance. Given ...
Read MoreThe Hong Kong Monetary Authority (HKMA) has completed its annual assessment of the list of Domestic Systemically Important Authorized Institutions (D-SIBs). Based on the assessment results, the list of authorized institutions designated as D-SIBs remains unchanged compared to the list of D-SIBs published by the HKMA on 29 December 2023. The latest list of D-SIBs is shown in the Annex. Under the D-SIB framework, each of the authorized institutions designated as a D-SIB will be required ...
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