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.

Look at other dictionaries:

  • bank — bank1 /bangk/, n. 1. a long pile or heap; mass: a bank of earth; a bank of clouds. 2. a slope or acclivity. 3. Physical Geog. the slope immediately bordering a stream course along which the water normally runs. 4. a broad elevation of the sea… …   Universalium

  • Bank of America — Not to be confused with First Bank of the United States, Second Bank of the United States, or Bank of United States. Bank of America Corporation Type Public Traded as …   Wikipedia

  • Bank of Montreal — Infobox Company company name = Bank of Montreal company company type = Public company foundation = Montreal, Quebec, Canada, November 3, 1817 location = , Canada key people = Bill Downe (CEO) David A. Galloway (Chairman of the Board) industry =… …   Wikipedia

  • Bank of Montreal — Agnico Eagle Mines Ltd. Rechtsform Aktiengesellschaft (Kanada) ISIN CA0636711016 Gründung …   Deutsch Wikipedia

  • Bank of the Manhattan Company — The Bank of the Manhattan Company (established 1799) is the earliest of the predecessor institutions that eventually formed the current JPMorgan Chase Co. History As background, the first corporate bank in New York, organized by Alexander… …   Wikipedia

  • Bank of England — Bank of England …   Wikipedia

  • bank — / baŋk/ n: an organization for the custody, loan, or exchange of money, for the extension of credit, and for facilitating the transmission of funds branch bank: a banking facility that is a separate but dependent part of a chartered bank; esp: a… …   Law dictionary

  • Bank of Japan — 日本銀行 (Japanese) …   Wikipedia

  • Bank of Thailand — ธนาคารแห่งประเทศไทย (ธปท.) Seal of the Bank of Thailand …   Wikipedia

  • Bank of America Home Loans — Type Subsidiary of Bank of America Founded 1969 (Countrywide), February 2009 (Bank of America Home Loans) Headquarters Calabasas, CA, USA (Countrywide Financial) Cha …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.