Exchange Bank Association
- Exchange Bank Association
Exchange Bank Association was originally established in 1897 in Hong Kong as a bank association in dealing with the exchange business. It then became an organization that set interest rates on bank deposits to keep bank competition alive and balanced.
History
The association was crucial in the stabilizing of financial markets during the Colonial Hong Kong era from 1890s to 1930s. [Masuyama, Seiichi. Vandenbrink, Donna. Yue Chia, Siow. [1999] (1999). East Asia's Financial Systems: Evolution & Crisis. Institute of Southeast Asian Studies Publishing. ISBN 9812300058] Their interest rates however, only affected banks. The 1960s and 70s would spawn new deposit-taking companies that set their own interest rates. This is one of the reason why the economy was split into a 3-tier system by 1981.
ee also
Hong Kong Association of Banks
Banking Ordinance
References
Wikimedia Foundation.
2010.
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