As the end of cheques approaches, the Hong Kong Association of Banks will need to avoid disruption and inconvenience in the transition from traditional paper to electronic payments
HSBC led Hong Kong's banks in keeping prime rates steady, following the lead of the city's monetary authority and offering a breather to businesses and mortgage borrowers as the economy struggles to crawl out of a stubborn slump. The city's biggest lender said in a statement at noon on Thursday that it will keep its prime rate unchanged at 5.875 per cent, while its deposit rate stays unchanged at 0.875 per cent per annum. Hong Kong's other lenders are expected to disclose their decisions later o
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