New Products
What's New In Investments, Funds? - Bank Of China (Hong Kong)
The latest offerings in investments, such as funds and structured products, and other notable developments.
Bank of China (Hong Kong)
Bank of
China (Hong Kong) has issued its first certificate of deposit
benchmarked in the Hong Kong Dollar Overnight Index Average
("HONIA") globally. The lender said it has become the first bank
to have issued HONIA-linked debt securities. The issuance size of
the three-month CD is HK$220 million ($28.25 million).
"BOCHK continues to promote the application of ARR in the Hong Kong market, as alternative reference rate (ARR) products of major currencies are gaining popularity. HONIA is an alternative reference rate for the Hong Kong Interbank Offered Rate (HIBOR). The issuance of the HONIA-linked CD serves to enrich the spectrum of investment options available to the market, and promote HONIA as the new pricing benchmark,” Chordio Chan, general manager and head of investment of BOCHK, said.
The bank took part in the first centrally-cleared HONIA Interest Rate Swap contract last July, and completed the first CNH fixed rate/HKD HONIA cross currency swap last October.
