HKMA introduces new liquidity facilities to protect banks amid Hong Kong turmoil

Hong Kong Monetary Authority has updated its emergency funding framework and introduced a new facility to support banks in the case of an unexpected liquidity crunch, a move aimed at strengthening the banking system at a time of unprecedented social unrest. The HKMA's updated liquidity framework includes the introduction of four new ways banks can borrow from the central bank in the case of any liquidity crisis and to fulfill requirements recommended by the Financial Stability Board (FSB) in 2018.  "This is part of our ongoing work to maintain the integrity and stability of the moneta...