The Hong Kong Monetary Authority (HKMA) has made it incumbent on banks to conduct a mandatory name-matching process on customers for real-time fund transfers, the latest step by the city’s financial regulator to tackle scams. Financial institutions have been urged to adopt “refined measures” on their instant fund transfer systems such as the Faster Payment…
HSBC, the biggest commercial bank in Hong Kong, lowered its prime lending rate for a second time this year, trimming borrowing costs for consumers and businesses. Bank of China’s local unit matched the move, and other lenders are expected to follow suit. The UK banking group will trim its prime rate by 25 basis points…
China unveiled stimulus measures to boost an economy blighted by a years-long property sector crisis and chronically low consumption (ADEK BERRY) China said Saturday it would issue special bonds to help its sputtering economy, signalling a spending spree to bolster banks, shore up the property market and ease local government debt as part of one…
BEIJING (Reuters) -China’s central bank said on Sunday it would tell banks to lower mortgage rates for existing home loans before Oct. 31, as part of sweeping policies to support the country’s beleaguered property market as the economy slows. Commercial banks should, in batches, reduce interest rates on existing mortgages to no less than 30…