Business & Finance

Banking system core functions maintained

(September 29, 2014)

To maintain the banking system’s core function normal operation in view of the public order situation in Central and some other areas, the Monetary Authority and affected banks activated business continuity plans this morning.
 
According to reports the authority received from banks at 7am today, 29 branches, offices or ATMs of 17 banks are affected and will be closed temporarily until further notice. The authority and the banks will closely monitor any developments.
 
The Hong Kong interbank markets and the Currency Board mechanism will function normally to maintain the Hong Kong dollar exchange rate's stability. Under the established mechanism, the authority will inject liquidity into the banking system as and when necessary.
 
The payment and settlement systems, including the HKD, USD, EUR and RMB Real Time Gross Settlement systems, and the Central Moneymarkets Unit will continue to operate normally, the Authority said.
 
Customers can call bank hotlines for assistance, or browse their websites for more information.