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Article: Hong Kong signs deal with Dutch central bank on mutual liquidity assistance
- Article from:
- Xinhua News Agency
- Article date:
- May 26, 2009
CopyrightCopyright 2009 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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Hong Kong signs deal with Dutch central bank on mutual liquidity
assistance
HONG KONG, May 26 (Xinhua) -- The Hong Kong Monetary Authority
(HKMA) and the Dutch central bank DNB signed on Tuesday a memorandum
of understanding for a liquidity arrangement in a bid to enhance
confidence of banks on both sides.
The arrangement, which takes effect immediately, will enable
Dutch banks to operate in Hong Kong or Hong Kong banks to operate in
the Netherlands to ask for liquidity assistance from the HKMA or the
DNB if needed.
According to a news release by the Hong Kong government, the
advantage of the arrangement is that the ...