|
Monetary Authority Chief Executive Joseph Yam has welcomed the US Government's plan to help banks remove bad assets from their books.
Speaking to reporters this morning, Mr Yam said the US needs to introduce a prudent supervisory mechanism into its financial system, adding the newly announced banks revival plan will help US banks resume their loan business and support the country's economy.
In response to the capital inflow in the past two days, the Monetary Authority injected over $5 billion into Hong Kong's banking system. Mr Yam said the move will further lower costs for banks to borrow money and will support the local economy.
Go To Top
|
