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The Hong Kong Monetary Authority (HKMA) is the central banking institution of Hong Kong. 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]
The HKMA nominates members to participate in the affairs of various regulatory bodies, government departments, healthcare organisations, statutory and non-statutory institutions The HKMA consists of approximately 30 standing committees and ad hoc committees to assist the Council in overseeing and implementing initiatives pertaining to medical ...
They are collectively known as “authorized institutions” supervised by the Hong Kong Monetary Authority (HKMA). [ 1 ] As one of the top five financial centres worldwide, Hong Kong has one of the highest concentrations of banking institutions in the world, with 70 of the largest 100 banks in the world having an operation in Hong Kong.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are ...
Chief Executive: John Lee; Office of the Chief Executive; Committee for Safeguarding National Security of the HKSAR; Principal officials; Chief Secretary: Eric Chan; Financial Secretary: Paul Chan
The HKMA, which is Hong Kong's central banking institution, acts as the clearing house for Hong Kong dollar (HKD) CHATS. All licensed banks in Hong Kong maintain HKD settlement accounts with the HKMA, and as of June 2000, restricted license banks "with a clear business need" may also open settlement accounts with the HKMA. [5]
This page was last edited on 31 January 2020, at 11:49 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.