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HKMA and the Bangko Sentral ng Pilipinas sign agreement
The Hong Kong Monetary Authority (HKMA) announced that it signed a bilateral repurchase agreement (repo) with Bangko Sentral ng Pilipinas today (Friday) in Hong Kong, the fifth such agreement HKMA has entered into with central banks in the region.
On November 20, HKMA signed agreements on the repo of US dollar government securities to provide liquidity on a bilateral basis with the Reserve Bank of Australia, Bank Indonesia. Bank Negara Malaysia and Bank of Thailand,
Repos are simultaneous agreements to buy securities for an agreed amount of cash and to agree to sell back the same securities at a specified later date for a specified amount.
Bilateral repos are straightforward commercial transactions that the Exchange Fund has been transacting with commercial banks and investment houses to improve its liquidity.
Establishing well secured repo lines with central banks whose credit standing are generally higher than that of private sector banks would improve liquidity of the Exchange Fund under minimum risk.
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Lectures on Hong Kong's heritage to be held
The Antiquities and Monuments Office (AMO) is organising a series of lectures starting from tomorrow (Saturday) on Hong Kong's heritage.
The opening lecture on villages in the New Territories will be given by Dr Patrick Hase of the Royal Asiatic Society Hong Kong Branch at 2.30 pm at the AMO Gallery, 136 Nathan Road, Kowloon.