Banking
HKMA Reports Slight Increase in Composite Interest Rate for December 2024
The Hong Kong Monetary Authority announced a rise in the composite interest rate to 2.24% by December 2024, reflecting increased weighted funding costs for deposits.
HKMA Maintains Current List of Domestic Systemically Important Banks
The Hong Kong Monetary Authority (HKMA) has upheld its 2023 list of Domestic Systemically Important Banks (D-SIBs), keeping the Higher Loss Absorbency requirements unchanged.
Hong Kong Monetary Authority Reports November 2024 Monetary Statistics
The Hong Kong Monetary Authority reported a 0.3% increase in total deposits for November 2024, with notable changes in currency deposits and loan activities.
Hong Kong Enhances Deposit Protection Scheme with New Measures
The Hong Kong Deposit Protection Board implements the second phase of enhancements to the Deposit Protection Scheme, improving depositor coverage and increasing public awareness.
HKMA Issues Alert on Unauthorized Website Claiming Banking Services
The Hong Kong Monetary Authority warns the public about an unauthorized website, urging verification of banking authorizations before sharing funds or personal data.
HKMA Expands One-Stop Dataset of Retail Banking Facilities in Hong Kong
The Hong Kong Monetary Authority (HKMA) has expanded its dataset offerings through an Open API, enhancing data on retail banking facilities and promoting innovative applications.
Hong Kong Monetary Authority Penalizes China CITIC Bank for AML Violations
The Hong Kong Monetary Authority has fined China CITIC Bank International Limited HK$4 million for breaches of the Anti-Money Laundering and Counter-Terrorist Financing Ordinance.
Hong Kong Expands Fraud Alert System to ATM Transactions
The Hong Kong Monetary Authority, with police and banks, expands its Suspicious Account Alert system to include ATM transactions, enhancing anti-fraud measures.
Hong Kong Monetary Authority Reports October 2024 Monetary Statistics
The Hong Kong Monetary Authority reveals that total deposits remained stable in October 2024, with notable movements in Hong Kong dollar and foreign currency deposits.
HKMA Issues Alert on Fraudulent Website Linked to Chong Hing Bank
The Hong Kong Monetary Authority warns the public about a fraudulent website associated with Chong Hing Bank Limited, advising caution against phishing scams.