HKMA Quarterly Bulletin (December 2005 Issue)

The Hong Kong Monetary Authority (HKMA) today (Wednesday) published the December 2005 issue of its Quarterly Bulletin.

This issue of the Quarterly Bulletin contains the regular Half-Yearly Monetary and Financial Stability Report, which analyses recent external and domestic influences on Hong Kong's monetary and financial systems. The Report notes that favourable economic trends continue to characterise Hong Kong's economy, and the assessment is that both the external and internal factors augur well for continued monetary and financial stability in Hong Kong.

This Quarterly Bulletin contains three feature articles:

• The composite interest rate of Hong Kong - a new data series - providing the background to the composite interest rate that the HKMA proposes as a tool for banks to better manage their interest rate risks.

• Hong Kong as one of the world's largest net creditors: a study of international investment position statistics - concluding that sharp increases in net portfolio investment and in other investments are the main factors accounting for Hong Kong's position.
• Review of financial infrastructure development - providing an update of the subject.

The Bulletin also includes a Supervisor's Memo on implementation of Basel II in Hong Kong.

The Quarterly Bulletin may be ordered from the HKMA at $100 per copy. A separate version of the Half-Yearly Monetary and Financial Stability Report (English only) may be ordered at $60 per copy. The Bulletin and the Report may also be bought at the HKMA Information Centre on 55th Floor, Two International Finance Centre. The full text of the Bulletin (http://www.info.gov.hk/hkma/eng/public/qb_index.htm) and the Report (http://www.info.gov.hk/hkma/eng/public/mfsr_index.htm) is available on the HKMA website.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Wong Hing-fung, Resource Co-ordinator, at 2878 1802

Hong Kong Monetary Authority

14 December 2005