Category Fraud Alerts HK

According to statistics published today (Monday) by the Hong Kong Monetary Authority, excluding the deposits created by the initial public offering (IPO)-related loans, total deposits and Hong Kong dollar deposits with authorized institutions increased by 0.3% and 0.1% respectively in April 2021. In the year to end-April, total deposits and Hong Kong dollar deposits grew by 1.2% and 2.2% respectively.

Large-scale IPO activities at the end of March caused an increase in deposits that resulted in a high base effect. As these IPO activities ended and issuers returned application monies, total deposits remained virtually unchanged in April. Among the total, Hong Kong dollar deposits declined by 0.5%, while overall foreign currency deposits increased by 0.6%. Renminbi deposits in Hong Kong increased by 1.2% to RMB782.0 billion at the end of April. The total remittance of renminbi for cross-border trade settlement amounted to RMB561.8 billion in April, compared with RMB676.4 billion in March. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.

Excluding the IPO-related loans, total loans and advances edged up by 0.2% in April, and increased by 2.6% in the year to end-April. As IPO activities ended and customers repaid subscription loans, total loans and advances edged down by 0.2% in April. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong decreased by 0.2% and 0.1% respectively. The Hong Kong dollar loan-to-deposit ratio edged down to 83.2% at the end of April from 83.3% at the end of March, as Hong Kong dollar deposits decreased at a slower pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 both went down by 0.6% in April, but grew by 8.1% and 8.0% respectively compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 edged up by 0.2% in April, and rose by 27.4% compared to a year ago, reflecting in part investment-related activities. Total M2 and M3 both edged up by 0.1% in April, and rose by 5.6% and 5.5% respectively from a year earlier. Excluding the deposits created by the IPO-related loans, Hong Kong dollar M2 and M3 both edged down by 0.1%, but both went up by 2.0% in the year to end-April; total M2 and M3 both increased by 0.3%, and both increased by 1.0% in the year to end-April.

As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.




Hong Kong Monetary Authority
31 May 2021



Source link

Is your business effected by Cyber Crime?

If a cyber crime or cyber attack happens to you, you need to respond quickly. Cyber crime in its several formats such as online identity theft, financial fraud, stalking, bullying, hacking, e-mail fraud, email spoofing, invoice fraud, email scams, banking scam, CEO fraud. Cyber fraud can lead to major disruption and financial disasters.
Digitpol can assist with all stages of cyber related incidents.

Contact Digitpol’s hotlines or respond to us online.

ASIA +85239733884
Europe +31558448040
UK +44 20 8089 9944