Hong Kong foreign exchange and money markets

The Hong Kong Monetary Authority (HKMA) announces that the HK dollar and US dollar RTGS systems and other clearing and payment systems in Hong Kong will be open for business as usual today (12 September).

It is understood that, notwithstanding the devastating events in the USA overnight, the principal US payment and settlement systems continued to function and concluded the day's business (for 11 September) in the normal manner. It can be expected that normal business will continue through those systems on the current business day (12 September).

It is not therefore envisaged that there will be any problems with clearing and settlement in Hong Kong, in either HKD or USD. Nevertheless, the HKMA will monitor the situation closely, with a view to ensuring adequate liquidity and smooth functioning of the systems. The usual facilities for banks to obtain liquidity through intraday repos and overnight access to the discount window are of course available. If any authorized institution encounters an exceptional problem the HKMA stands ready to discuss it.

Hong Kong Monetary Authority
12 September 2001