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CHINA PRESS: Hong Kong’s banking watchdog has acted..

By   || March 3, 2010 at 23:37 GMT
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CHINA PRESS: Hong Kong’s banking watchdog has acted to head off a
damaging mortgage price war by setting guidance floors on mortgage
rates, and warning lenders of default risks in a property market
correction, The South China Morning Post reports. The move came after
banking giant HSBC last month launched the city’s lowest mortgage rate –
a 0.65 percentage point premium to the one-month Hong Kong interbank
offered rate (Hibor). HSBC’s offer, the lowest in 20 years, was soon
matched by its rivals.

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