Hong Kong Monetary Authority - Banking Stability Currency linked deposit hkma

It is a government authority founded on 1 April when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary. The fund was established and managed originally by the Currency Ordinance in It is now named the Exchange Fund Ordinance. It is currency linked deposit hkma responsible for promoting the efficiency, integrity and development of the financial system.

The role of issuing other banknotes is delegated to the note-issuing banks in the territory, namely The Currency linked deposit hkma and Shanghai Banking CorporationStandard Chartered Bank and Bank of China.

The official reserves of Hong Kong and the banking system are important underpinnings of the linked exchange rate system. Since click at this page, the HKMA has entered into a stability pact with central banks in Malaysia, Thailand, Indonesia and Australia to engage in repurchase agreement s, which provide liquidity on a two-way basis. It extended the service to other Hong Kong dollar debt securities in late A seamless interface allow the co-existence of the CMU and the newly launched real-time gross settlement RTGS inter-bank payment system.

The Interest Rate Adjustment Mechanism is an automatic system that maintains the stability of currency linked deposit hkma Hong Kong dollar exchange rate. Lately the HKMA has been disclosing the forecast change in the Aggregate Balance attributes to increase the transparency of the Currency Board operation. InNobel Prize—winning economist Milton Friedman mistakenly predicted the Hong Kong currency linked deposit hkma demise within two years of the handover.

As with any monetary system not based on a fiat money which includes currency boards, currency unions and the traditional gold standard it is impossible to use monetary policy to stabilise the business cycle: In Hong Kong, currency linked deposit hkma is made easier by two factors: The second factor is the scarce political clout of the trade unions, which makes it easier to trim the nominal salaries during recessionary times.

Only the three note issuing banks could receive deposits because they had been rated by "objective international standards". During the Asian financial crisiscurrency speculators sold the Hong Kong dollar heavily and shorted local stocks and Hang Seng Index futures.

Instead of being a regulator, the government has become "a player, a very key player". In hindsight, one speculator said: It prevented gambling websites internet bigger crisis and saved the market.

Most stocks acquired during that operation were successively disposed with the creation of a tracker fund, the TraHK.

That reduced the portfolio of HK equities to 5. Banking stability mainly depends on the banking system and supervision. A three-tier system was implemented in the s. Institutions are also managed differently currency linked deposit hkma on whether they are categorised as licensed banks, restricted license banks or deposit-taking institutions.

Overseas banks may also establish local representative offices in Hong Currency linked deposit hkma. It purchased fourteen floors in Tower 2. Yam hoped that hosting the event would cement Hong Kong's status as an international financial centre. From Wikipedia, the free encyclopedia.

Tsang Archived 16 Online casino thailand at the Wayback Machine. Retrieved 27 March Hong Kong Monetary Authority. Executive Council Government Secretariat. Foreign relations of Hong Kong. Economy of Hong Kong. Speak Up Pearl River Delta. International rankings of Hong Kong. List of power stations in Hong Kong. Economy free online casino slot games for fun Macau Economy of Asia.

Martin Mercer Ricnaecker Forth C. Tsang Leung Tang J. Capital control Discount rate Interest rates Money creation Open market operation Sovereign wealth fund. List of central banks Central banks and currencies of Currency linked deposit hkma Central banks visit web page currencies of Asia-Pacific Central banks and currencies of the Caribbean Central banks and currencies of Europe Central banks and currencies of Central America and South America.

Retrieved from " https: Webarchive template wayback links EngvarB from February Use dmy dates from February Articles containing Chinese-language text. Views Read Edit View history. In other projects Wikimedia Commons. This page was last edited on 3 Augustat By using this site, you agree to the Terms of Use and Privacy Policy. Logo of the Hong Kong Monetary Authority.

Culture Education Geography History Politics.


Hong Kong dollar - Wikipedia Currency linked deposit hkma

In the current low interest rate environment, depositors are likely to have an increased interest in looking for enhanced return from investment products. This circular reminds authorized institutions AIs that they should exercise due care in marketing and selling investment products currency linked deposit hkma customers. Many AIs also distribute investment products which are not regulated by the Bet365 online casino, such as currency and interest rate linked deposits and derivatives.

Similar to SFO-regulated investment products, these products involve investment risks to currency linked deposit hkma customers and are often not principal-protected. Apart from ensuring suitability, AIs should also clearly currency linked deposit hkma, among other things, the following key facts and risks to the currency linked deposit hkma when marketing and selling investment products that are not regulated by the SFO:.

AIs should conduct the above procedures inside the investment corner, and for audit trail purposes, must maintain adequate records to demonstrate that they have conducted appropriate suitability assessment and evidence that they have made the above disclosures, including audio recording as required in the HKMA circular.

For products that are relatively simple, such as non-leveraged foreign currency linked deposits of major currencies 1non-leveraged interest rate linked deposits and non-leveraged gold linked deposits, the HKMA is prepared to allow some operational flexibility in complying with the risk disclosure requirements for roll-over and repeated transactions. For these products, Currency linked deposit hkma should conduct the suitability assessment and make a full disclosure of the key facts and risks as set out above inside the investment corner at the time of the first transaction of each type of products.

In cases where the currency linked deposit hkma transactions or repeated transactions are made by telephone instructions, RIs must ensure and maintain audio records to prove that the customers continue to understand the key risks of these transactions.

AIs are article source that this operational flexibility does not discharge them learn more here the obligation of ensuring the suitability of the product to the customer in every transaction. In particular, marketing materials must be clear, fair and.

Financial or other incentives e. Currently, product issuers may distribute investment products through the "private placement" channel only if the distribution meets the prescribed exemptions under the Companies Ordinance CO 2. A prospectus is not required in respect of products sold through a private placement and the associated marketing materials are not required to be authorized by the SFC.

These requirements are designed to ensure the provision of adequate information to investors and thereby offer them a measure of protection. Accordingly, AIs must be satisfied that the use of the private placement channel for distributing investment products is appropriate and justified.

In particular, AIs must be careful when dealing with schemes involving recurrent series of substantially similar products with minimal changes in product features and ensure that these schemes fully meet the prescribed exemptions for private placement. Further, as the offering documents of investment products distributed through the private placement channel are not required to be authorized by the SFC, the HKMA will look to AIs that distribute these products to ensure that the offering documents contain full and clear disclosure of product nature and risks.

If you have any questions on the above, please get in touch with your usual supervisory contact at the HKMA. Smaller A Text Size: Default Size A Text Size: Geithner Stephen Grenville Kenneth G.

Investment products not regulated by the SFO Many AIs also distribute investment products which are not regulated by the SFO, such as currency and interest rate linked deposits and derivatives. Apart from ensuring suitability, AIs should also clearly disclose, among other things, the following key facts and risks to the customers for money blackjack ny online marketing and selling investment products that are not regulated by the SFO: In particular, marketing materials must be clear, fair and present a balanced picture with adequate currency linked deposit hkma prominent risk disclosure in compliance with all applicable regulations.

Investment products sold through private placement Currently, product issuers may distribute investment products through the "private placement" channel only if the distribution meets the prescribed exemptions under the Companies Ordinance CO 2.


Cuba's two currencies explained

Some more links:
- sloto cash casino
Ccompany fundamental, Earning Summary, Annual, Interim Note:Currency conversion from the HKMA Monthly Statistical Bulletin Last Update: /04/
- golden euro casino bonus codes
The HKMA has a general objective to promote the safety and stability of the banking system. Achieving this objective is contingent upon the financial system being.
- depositare soldi in nero in banca
The HKMA has a general objective to promote the safety and stability of the banking system. Achieving this objective is contingent upon the financial system being.
- win money playing roulette online
The Hong Kong dollar (Chinese: 港元; Cantonese Yale: Góng yùn; lit. "Harbour Money"; sign: HK$; code: HKD) is the official currency of the Hong Kong Special.
- best online casino malaysia
The HKMA has a general objective to promote the safety and stability of the banking system. Achieving this objective is contingent upon the financial system being.
- Sitemap


Нажимая кнопку «Отправить», вы соглашаетесь с нашей политикой конфиденциальности