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The Hong Kong Monetary Authority ( HKMA) is Hong Kong's central banking institution. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary. [2]
Hong Kong Inter-bank Offered Rate, (or HIBOR, Chinese: 香港銀行同業拆息), is the annualized rate charged for inter-bank lending on Hong Kong Dollar (HKD) denominated instruments, for a specified period ranging from overnight to one year. [citation needed] It is calculated daily at 11:00 a.m. local time based on quotations from 20 banks ...
The two exchanges merged to form the Hong Kong Stock Exchange in 1947 and re-establish the stock market after the Second World War. Rapid growth of the Hong Kong economy led to the establishment of three other exchanges – the Far East Exchange in 1969; the Kam Ngan Stock Exchange in 1971; and the Kowloon Stock Exchange in 1972.
JPMorgan Chase & Co. is an American multinational finance company headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization as of 2023. [3] [4] As the largest of Big Four banks, the firm is considered systemically important by the Financial ...
A linked exchange rate system is a type of exchange rate regime that pegs the exchange rate of one currency to another. It is the exchange rate system implemented in Hong Kong to stabilise the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The Macao pataca (MOP) is similarly linked to the Hong Kong dollar .
The Exchange Fund of Hong Kong is the primary investment arm and de facto sovereign wealth fund of the Hong Kong Monetary Authority.First established in 1935 in order to provide backing to the issuance of Hong Kong dollar banknotes, over the years the role of the Fund has continually expanded to now include management of fiscal reserves, foreign currency reserves, real estate investments, and ...
JPMorgan Chase , Wells Fargo , and Citigroup all said Friday that their net interest income dropped from the fourth quarter to the first quarter. It was down 4% at JPMorgan, 4% at Wells Fargo, and ...
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [16] [17] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [18] and is pegged to the US dollar.