HKMA says deposits stable according to large banks’ data

A Star Ferry sails past Hong Kong’s business Central district June 18, 2014. — Reuters pic
A Star Ferry sails past Hong Kong’s business Central district June 18, 2014. — Reuters pic

HONG KONG, June 2 — Deposits in Hong Kong have remained stable in the past few days according to data provided by large banks in the city, Eddie Yue, chief executive of the Hong Kong Monetary Authority (HKMA), wrote in a blogpost today.

His comments came after Paul Chan, the city’s financial secretary, said yesterday that the People’s Bank of China could help Hong Kong defend the peg with the US dollar if needed and provide it with US dollars via a swap line set up last year. — Reuters

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