HKABHong Kong Association of Banks
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The HKAB will stop determining the key savings deposit rate at its weekly meeting after the territory's interest rates are fully liberalized as the deregulation that covers Hong Kong dollar savings and current accounts goes ahead July 3.
Planning for its future role, the HKAB commissioned consulting firm KPMG to do a study, whose results have been released to member banks for consultation over the next two weeks.
Wong said the HKAB will be more active in lobbying the government, the Hong Kong Monetary Authority -- the territory's de facto central bank -- and other parties over issues that affect the banking sector, such as the development of the Code of Banking Practice.
''Plans are also under way to establish more formal and frequent working links between the HKAB and other international banking associations to foster sharing of views, especially with our counterparts in mainland China,'' Wong said.