Regulatory Alerts2024-05-22
Added · Updated
Refinements of the US Dollar Liquidity Facility
The Hong Kong Monetary Authority issued this directive to refine its US Dollar Liquidity Facility in response to the US Federal Reserve's introduction of a seven-day repo facility under the FIMA program. Effective 24 May 2024, the HKMA accelerated the settlement cycle to T+0 and mandated collateral transfers by 6:00 p.m. on the tender date. Additionally, the minimum bidding interest rate was adjusted to align with the pricing rate for the seven-day term of the FIMA Repo Facility.
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