The Hong Kong Monetary Authority (HKMA) announced today (Thursday) the extension of the temporary US Dollar Liquidity Facility to 30 September 2021.

On 31 March 2020, the US Federal Reserve announced the establishment of a temporary repurchase agreement facility for foreign and international monetary authorities (FIMA Repo Facility) to help alleviate tightness in the global US dollar interbank money markets amid volatilities and uncertainties in the global financial markets brought about by COVID-19. In April, the HKMA launched the temporary US Dollar Liquidity Facility using the funds obtained through the FIMA Repo Facility, in order to provide licensed banks with an additional channel to obtain US dollar liquidity. Considering the Federal Reserve’s decision last night to further extend the Facility to 30 September 2021, the HKMA has decided to extend the temporary US Dollar Liquidity Facility accordingly. While the US dollar funding market in Hong Kong is working smoothly, the Facility will continue to provide a useful backstop.

The operational parameters of the temporary US Dollar Liquidity Facility will remain unchanged. A total of US$10 billion is currently available to banks under the Facility in the form of repurchase transactions for a term of 7 days through competitive tenders held by the HKMA every week.

 

Hong Kong Monetary Authority
17 December 2020



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. Contact Digitpol’s hotlines or respond to us online.

Digitpol is available 24/7.

Email: info@digitpol.com
ASIA +85239733884
Europe +31558448040
UK +44 20 8089 9944

Write a comment:
*

Your email address will not be published.