BRIEF-HKMA Says It Continues To Have Strong Confidence In Linked Exchange Rate System

Hong Kong Monetary Authority :

* HONG KONG MONETARY AUTHORITY: AS THE U.S. HAS RAISED INTEREST RATES AND GLOBAL LIQUIDITY HAS TIGHTENED, IT IS NORMAL TO SEE OUTFLOWS FROM THE HONG KONG DOLLAR SYSTEM * HONG KONG MONETARY AUTHORITY: IT HAS PUT IN PLACE A SERIES OF LIQUIDITY FACILITIES TO PROVIDE BANKS WITH SHORT-TERM HONG KONG DOLLAR LIQUIDITY IN CASES OF NEED

* HONG KONG MONETARY AUTHORITY: THE MARKET HAS SUFFICIENT UNDERSTANDING AND OPERATIONAL EXPERIENCE OF THE LINKED EXCHANGE RATE SYSTEM (LERS), AND CONTINUES TO HAVE STRONG CONFIDENCE IN THE SYSTEM * HONG KONG MONETARY AUTHORITY: BANKS WERE ABLE TO PROPERLY MANAGE THEIR LIQUIDITY TO ENSURE ORDERLY AND EFFICIENT MOVEMENTS OF FUNDS

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