| Journal Call no. | HD38.2.E93 |
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| Article Title | Expect higher deposit rates / Edward Chen. |
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| Is Part Of | The executive ; v.15, no.8, Aug 1994, p.58, illus. |
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| Abstract | Following the decision by the government to loosen control on interest rates on fixed deposits, expect to see commercial banks pitching these interest rates more competitively. The decision in July 94 finally paves the way for the dismantling of the territory's 30-year-old interest rate cartel enjoyed by members of the Hong Kong Assoication of Banks, a cartel that the Consumer Council claims has allowed commerical banks in Hongkong to make excess profits at the expense of small depositors. These excess profits were estimated to be between HK$5.17 billion and HK$7.4 billion in 1991. |
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