June 2, 2020 / 9:07 AM / a month ago

HKMA says deposits stable according to large banks' data

HONG KONG, June 2 (Reuters) - Deposits in Hong Kong have remained stable in the past few days according to data provided by large banks in the city, Eddie Yue, chief executive of the Hong Kong Monetary Authority (HKMA), wrote in a blogpost on Tuesday.

His comments came after Paul Chan, the city’s financial secretary, said on Monday that the People’s Bank of China could help Hong Kong defend the peg with the U.S. dollar if needed and provide it with U.S. dollars via a swap line set up last year.

Reporting by Noah Sin and Twinnie Siu, editing by Louise Heavens

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