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| Sep 25, 2008 | |
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HK central bank injects $710m
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| HONG KONG - HONG Kong's central bank on Thursday injected HK$3.883 billion (S$710 million) into the territory's interbank market, the second such move in less than two weeks, to ensure sufficient liquidity as credit tightened after thousands of customers withdrew cash from Bank of East Asia .
Bank of East Asia, the city's fifth-ranked lender, on Wednesday denied rumours questioning its financial stability but on Thursday customers were still queuing up at its branches demanding their deposits. The Hong Kong Monetary Authority had said the rumours were unfounded and that it would provide liquidity to the bank if necessary. -- REUTERS | |
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