Hong Kong – Composite Interest Rate: End of September 2021
Composite Interest Rate: End of September 2021
**********************************************
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (October 20) the composite interest rate at the end of September 2021. (Note 1)
The composite interest rate, which is a measure of the average cost of funds of banks, remained unchanged at 0.19 per cent at the end of September 2021 (see Chart 1 in the Annex) as the weighted funding cost for deposits was steady during the month (see Chart 2 in the Annex). (Note 2)
The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of September 2021 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk).
Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.
Note 2: Since June 2019, the composite interest rate and weighted deposit rate have been calculated based on the new local “Interest rate risk in the banking book” (IRRBB) framework. As such, these figures are not strictly comparable with those of previous months.
. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this press release. We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov.
The following is issued on behalf of the Hong Kong Monetary Authority: Note 2: Since June 2019, the composite interest rate and weighted deposit rate have been calculated based on the new local “Interest rate risk in the banking book” (IRRBB) framework. As such, these figures are not strictly comparable with those of previous months. Ministry of Food Processing Industries has floated Expression of Interest (EoI) for submission of proposals for setting up of Mega Food Parks in the country under Mega Food Park Scheme (MFPS) on 03.02.2021. The last date for submission of the proposal is 03.03.2021. Ministry has been implementing Mega Food Park Scheme to create modern infrastructure for the food processing. This scheme is now a component of the new Central Sector Umbrella Scheme – Pradhan MantriKisanSampadaYojana (PMKSY). The proposals under Mega Food Park Scheme for setting up of Mega Food Parks in the country are invited through Expression of Interest (EoI) from time to time. Selection of suitable proposals for these projects is done as per the Scheme guidelines, based on the merit, through a three-tier stringent appraisal process as per the prefixed criteria. As per the Mega Food Park Scheme guidelines, the Scheme provides a capital grant at the rate of 50 percent of the eligible project cost in general areas and at the rate of 75 percent of eligible project cost in difficult and hilly areas i.e. North East Region including Sikkim, J&K, Himachal Pradesh, Uttarakhand and ITDP notified areas of the States subject to a maximum grant of Rs.50 crore per project. The time schedule for completion and successful operationalization of a Mega Food Park project is 30 months from the date of final approval to the project. This information was given by the Minister of State for Food and Processing Industries, Shri RameswarTeli in a written reply in the Lok Sabha today. **** YKB/TM (Release ID: 1696560) Visitor Counter : 75 Read this release in: TamilShell to sell interest in Deer Park refinery to partner Pemex
Hong Kong – Composite Interest Rate: End of February 2021
The Hong Kong Monetary Authority (HKMA) announced today (March 18) the composite interest rate at the end of February 2021. (Note 1)
The composite interest rate, which is a measure of the average cost of funds of banks, decreased by 1 basis point to 0.23 per cent at the end of February 2021, from 0.24 per cent at the end of January 2021 (see Chart 1 in the Annex). The decrease in composite interest rate mainly reflected a decrease in the weighted funding cost for deposits during the month (see Chart 2 in the Annex). (Note 2)
The historical data of the composite interest rate from the end of the fourth quarter of 2003 to the end of February 2021 are available in the Monthly Statistical Bulletin on the HKMA website (www.hkma.gov.hk).
Note 1: The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest-rate-sensitive liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and all other liabilities that do not involve any formal payment of interest but the values of which are sensitive to interest rate movements (such as Hong Kong dollar non-interest bearing demand deposits) on the books of banks. Data from retail banks, which account for about 90 per cent of the total customers’ deposits in the banking sector, are used in the calculation. It should be noted that the composite interest rate represents only average interest expenses. There are various other costs involved in the making of a loan, such as operating costs (e.g. staff and rental expenses), credit cost and hedging cost, which are not covered by the composite interest rate.Expression of Interest invited for setting up of Mega Food Parks
Ads
