ECB commemorates International Holocaust Remembrance Day with ceremony and temporary exhibition

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SFC reprimands and fines Hang Seng Bank Limited $66.4 million for misconduct in selling practices of investment products

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Survey on the Access to Finance of Enterprises: firms report lower interest rates but a small decline in bank loan availability

27 January 2025Firms reported declining bank interest rates on loans, although indicating a slight further tightening of other lending conditions. There was a slight increase in the bank financing gap compared with the previous quarter as firms reported a small reduction in bank loan availability and no change in the need for bank loans. Firms’ inflation expectations increased slightly, with their median expectations for annual inflation in one, three and five years all standing at 3. 0%, 0. 1 p...

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2025-01-27 - Data portal - Important monetary policy data, 27 January 2025

Required: These cookies (e. g. for storing your IP address) cannot be rejected as they are necessary to ensure the operation of the website. These data are not evaluated further. Analytics: If you consent to this category, data such as IP address, location, device information, browser version and site visitor behaviour will be collected. These data are evaluated for the SNB's internal purposes and are kept for two years. Third-party: If you consent to this category, third-party services ...

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Christine Lagarde: Central bank independence in an era of volatility

Lamfalussy Lecture by Christine Lagarde, President of the ECB, at the Lamfalussy Lectures Conference organised by the Magyar Nemzeti Bank, pre-recorded in Frankfurt am Main on 15 January 2025Budapest, 27 January 2025 In his later years, Alexandre Lamfalussy was once asked what his fundamental motivation in life was. He recalled the experience of his turbulent youth, surrounded by the destruction caused by the Second World War. [1] “In the aftermath of the war,” Lamfalussy said, “I decided to ser...

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ECB commemorates International Holocaust Remembrance Day with ceremony and temporary exhibition

27 January 2025ECB and City of Frankfurt honour Holocaust victims, particularly those deported from Grossmarkthalle between 1941 and 1945Opening of exhibition entitled “Survivors: Faces of Life after the Holocaust” by photographer Martin Schoeller at ECB from 29 January to 26 February 2025 The European Central Bank (ECB) is hosting a commemorative event on International Holocaust Remembrance Day, 27 January 2025, at its main building in Ostend, Frankfurt. This year’s ceremony holds particular si...

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2025-01-27 - Press release - Romeo Lacher to step down from Bank Council

Required: These cookies (e. g. for storing your IP address) cannot be rejected as they are necessary to ensure the operation of the website. These data are not evaluated further. Analytics: If you consent to this category, data such as IP address, location, device information, browser version and site visitor behaviour will be collected. These data are evaluated for the SNB's internal purposes and are kept for two years. Third-party: If you consent to this category, third-party services ...

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Enforcement collaboration between HKMA and SFC - SFC reprimands and fines Hang Seng Bank Limited HK$66.4 million for misconduct in selling practices of investment products

The Securities and Futures Commission (SFC) has reprimanded and fined Hang Seng Bank Limited (HSB) HK$66. 4 million for serious regulatory failures in relation to the bank’s sale of collective investment schemes (CIS) and derivative products and overcharging its clients and making inadequate disclosure of monetary benefits to them during various periods over the course of nine years between February 2014 and May 2023 (Notes 1 and 2). Sales practices in relation to CIS The SFC’s discip...

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Exchange Fund Position at end-December 2024

The Hong Kong Monetary Authority (HKMA) today (27 January) published the unaudited financial position of the Exchange Fund at end-December 2024. The Exchange Fund recorded an investment income of HK$219. 0 billion in 2024. The main components were: gains on bonds of HK$135. 6 billion; gains on Hong Kong equities of HK$21. 8 billion; gains on other equities of HK$68. 7 billion; negative currency translation effect of HK$35. 6 billion on non-Hong Kong dollar assets (Note 1); and gains on...

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Reaching Out to the Community – Privacy Commissioner Interviewed by the Media to Explain the PCPD’s work in 2024

Date: 27 January 2025 Reaching Out to the Community – Privacy Commissioner Interviewed by the Media to Explain the PCPD’s work in 2024 The Privacy Commissioner for Personal Data (Privacy Commissioner), Ms Ada CHUNG Lai-ling, was interviewed by RTHK Radio 1’s “HK2000”, RTHK News’ “Hong Kong Today”, RTHK Radio 3’s “Hong Kong Today” and Now News’ “News Magazine” on 23 and 24 January, to explain her Office (PCPD)’s work in 2024 and the investigation findings on the da...

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