HKMA Quarterly Bulletin (June 2003 Issue)

The Hong Kong Monetary Authority (HKMA) today (Thursday) published the latest issue of its Quarterly Bulletin. This issue contains feature articles on:

• Export Performance in Hong Kong - Offshore Trade and Re-exports - examining the recent shift in trade patterns from re-exports to offshore trade and drawing attention in particular to the implications for employment.
• The Impact of Interest Rate Shocks on the Performance of the Banking Sector - providing an assessment of how an increase in interest rates affects banks' profitability.
• Introducing a Framework to Measure Resilience of an Economy - discussing the development of a preliminary conceptual framework to measure the resilience of an economy.
• Results of the 2002 Survey on Credit Derivatives Activity - providing survey results that show that banks' participation in the credit derivatives market has increased in the past three years.
• Deposit Protection Scheme Bill - describing the major provisions of the Bill and the rationale behind them.

In addition, the Bulletin also carries a Supervisor's Memo on the Securities and Future Ordinance and the Banking (Amendment) Ordinance 2002, providing guidance to registered institutions on frequently raised questions on the Ordinances. The Bulletin also contains regular articles on the banking and monetary environment during the first quarter of 2003.

The Quarterly Bulletin is on sale at the Government Publications Centre. It may also be ordered direct from the HKMA at $100 per copy. The full text of the Quarterly Bulletin is available on the HKMA website at http://www.info.gov.hk/hkma/eng/public/qb_index.htm

For further enquiries, please contact:

Jasmin Fung, Manager (Press) at 2878 8246
Thomas Chan, Senior Manager (Press) at 2878 1480

Hong Kong Monetary Authority
12 June 2003