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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: yard_man who wrote (4712)1/10/2004 2:59:46 AM
From: mishedlo  Read Replies (2) of 110194
 
The global rush to 0% interest rates across the board continues.
(I am getting some libor plays on the board on monday)

Hong Kong Bank Of East Asia Is Latest To Cut Hong Kong Dollar Deposit Rate
Saturday January 10, 1:11 am ET

HONG KONG -(Dow Jones)- Bank of East Asia Ltd. on Saturday said it will slash the interest rate it pays on Hong Kong dollar deposits to very near zero, as the city's financial institutions react to a surge of liquidity in the local market.

Bank of East Asia had previously paid annual interest of 1% on Hong Kong dollar deposits of HK$5,000 or more. That will drop to the new 0.001% rate on Monday. The bank is Hong Kong's fourth-largest, as ranked by the size of its assets.
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HSBC Cuts Its Hong Kong Dollar Deposit Rate To 0.001%
Friday January 9, 4:51 am ET

HONG KONG -(Dow Jones)- The Hongkong & Shanghai Banking Corp. (NYSE:HBC - News), the local unit of HSBC Holdings PLC , said Friday it will sharply cut the interest rate it pays on Hong Kong dollar deposits.

The bank will now pay interest of only 0.001% on savings accounts with a balance of more than HK$10,000, down from 0.01% previously. It will pay zero interest on anything less. Certain customers with combined balances of more than HK$1 million will get a rate of 0.005%.
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