Hong Kong’s de facto central bank is urging financial institutions in the city to follow a new set of guidelines when using generative artificial intelligence (GenAI) in consumer-facing applications, as …
The HKMA did not specify the eligible requirements for the GenAI sandbox and its application process, but said these details would be announced in due course. Hong Kong Monetary Authority …
HSBC, Hong Kong’s biggest note-issuing bank, and DBS Hong Kong will keep their key lending and deposit rates unchanged, meaning mortgage borrowers and companies face a longer wait for relief …
The Hong Kong Monetary Authority (HKMA) is keen to make its green taxonomy framework mandatory for the banking sector to support the development of sustainable financing in the city. Hong …
“Hong Kong is working very hard to contribute to the further internationalisation of renminbi,” said Wong. “We will continue issuing international bonds denominated in renminbi.” Last year, the city’s yuan …
Traditionally, consumers turn to banks to help fund home purchases, at interest rates based on the amount and length of borrowing. But with the e-HKD, Hong Kong residents could potentially …
“The executives who attend the summit can also meet local staff and clients, while some of them could also visit the mainland. They can share their insights about Hong Kong …
“The Chinese name of the virtual bank could be interpreted as ‘fictional’, which carries a meaning of not real or true. The name has a negative impact on virtual banks,” …
The HKMA follows the Fed’s rate decision in lockstep since 1983 by design under its linked exchange rate system to preserve the local currency’s peg to the US dollar. The …
ZA Bank’s planned expansion into the digital asset sector comes as Hong Kong’s mandatory licensing regime for centralised cryptocurrency exchanges takes effect from June 1. (From left) ZA Bank’s alternate …