Banks tap HK$416m from HKMA in the first two days of the week

Banks in Hong Kong borrowed HK$416 million for two days in a row from the Hong Kong Monetary Authority via the discount window this week, suggesting there was a sudden demand for liquidity amid the super typhoon and the mega new share sales.

HKMA data showed that banks borrowed HK$40 million and HK$376 million in overnight liquidity through the discount window on Monday and Tuesday, respectively.

The overnight Hong Kong Inter-bank Offered Rate has been rising significantly recently, climbing further to a three-week high of 4.45 percent the previous day.

STAFF REPORTER