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HKMA-related
Organisations
Hong
Kong Mortgage Corporation Limited (HKMC)
The Hong Kong Mortgage Corporation (HKMC) is a public limited company
incorporated under the Companies Ordinance and wholly owned by the
Government through the Exchange
Fund. The HKMC was incorporated in March 1997 with a view to
developing Hong Kong's secondary mortgage market. Its business is being
developed in two phases. The first phase involves the purchase of mortgage
loans for its own portfolio, which it funds largely through the issuance
of unsecured debt securities. In the second phase, the HKMC securitises
mortgages into Mortgage Backed Securities and offers them for sale to
investors.
Further links:
(1) HKMC
website
(2) Press
Releases
Hong
Kong Note Printing Limited (HKNPL)
Hong Kong Note Printing Limited (HKNPL) prints all of the banknotes for
Hong Kong's three note-issuing banks. The note printing plant at Tai Po
was purchased by the Hong Kong Government from De La Rue in April 1996 and
changed to its present name to continue operation. It is majority owned by
the Government, with minority shareholdings by the three note-issuing
banks and China Banknote Printing and Minting Corporation. Normally, the
company prints a total of about 320 million banknotes per year.
The public are welcome to pay a visit to the Visitor Gallery at HKNPL to
find out more about how banknotes are produced. This facility is available
on a pre-arranged basis for groups of up to fifteen people. To make a
booking, please visit HKNPL's website or contact them at (852) 2667-0082.
Further links:
(1) HKNPL Website
(2) HKNPL company
leaflets
(3) Press
Releases
(4)
"Notes and Coins in Hong Kong" section
Hong
Kong Institute for Monetary Research (HKIMR)
The Hong Kong Institute for Monetary Research (HKIMR) was established in
August 1999 with the objective of conducting research in the fields of
monetary policy, banking and finance that is of strategic importance to
Hong Kong and the Asian region. The Institute will invite distinguished
visiting fellows as well as local academics and researchers to undertake
research on issues relating to monetary and financial developments in Hong
Kong and the region.
The Institute was one of the initiatives announced
in the Policy Objectives of the 1998 Policy Address by the Chief Executive
of the Hong Kong Special Administrative Region. The Institute is
affiliated to the HKMA, and is funded by grants from the Exchange Fund.
Further links:
(1) HKIMR
Website
(2) Press
Releases
Hong
Kong Interbank Clearing Limited (HKICL)
Hong Kong Interbank Clearing Limited (HKICL) is a private company jointly
owned by the HKMA and the Hong Kong Association of Banks (HKAB). HKICL was
established in May 1995 to take over in phases the clearing functions
provided by the former Management Bank of the Clearing House, The Hongkong
and Shanghai Banking Corporation Limited. This process was completed in
April 1997.
HKICL provides interbank clearing and settlement
services to all banks in Hong Kong and operates a central clearing and
settlement system for public and private debt securities on behalf of the
HKMA.
Further links:
(1) HKICL
Website
(2) RTGS
section
Exchange Fund
Investment Limited (EFIL)
Exchange Fund Investment Limited (EFIL) is a
private limited company established in October 1998 under the Companies
Ordinance by the Government of the Hong Kong Special Administrative Region
to i) manage the Hong Kong equity portfolio of the Exchange Fund
(consisting of the Hang Seng Index constituent stocks acquired in the HKMA’s
August 1998 Market Operation and the portfolio transferred from the Land
Fund to the Exchange Fund in November 1998) and ii) to dispose of the
Exchange Fund’s Hong Kong equity portfolio (other than a long-term
investment portfolio equivalent to about 5% of the Exchange Fund) with
minimum disruption to the market. A total of HK$140.4 billion worth of
Hong Kong stocks was disposed of through the initial public offering of
the Tracker Fund of Hong Kong (TraHK) and the subsequent quarterly Tap
Facility of TraHK. The disposal programme was completed on 15 October
2002. The HKMA took over responsibility for the management of the Exchange
Fund’s Hong Kong equity portfolio from EFIL in January 2003.
Updated on 8 January 2008
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