HK, S'pore sign repo deal

HK, S'pore sign repo deal

HONG KONG (Reuter): The Hong Kong Monetary Authority (HKMA),
the territory's de facto central bank, and its Singaporean
counterpart, the Monetary Authority of Singapore, signed a
bilateral repurchase agreement on Saturday, the HKMA said in a
statement.

It is the seventh such accord secured by the HKMA, which has
already signed bilateral repurchase agreements with central banks
of Australia, China, Indonesia, Malaysia, the Philippines and
Thailand.

A bilateral repurchase agreement is the simultaneous agreement
to buy securities for an agreed amount of cash and to sell back
the same securities at a specific later date for a specified
amount.

Highly liquid U.S. dollar government securities are the
instruments used in all the repurchase agreements signed between
the HKMA and regional central banks.