Hong Kong Regulator Assures No Cash Withdrawal Cap
Following rumors that authorities could cap cash withdrawals, the Hong Kong Monetary Authority issued a statement in an attempt to quell concerns.
«In response to rumors that the HKMA would cap daily cash withdrawal from banks, the HKMA reiterates that the message is totally fake and unfounded,» the regulator said in a statement. «The Hong Kong banking system is robust and sound, with ample liquidity to meet the needs of the public.»
In addition to cash withdrawal limits, rumors emerged that the government could also halt stock market trading. The rumor gained further momentum in the morning of Monday after police fired live rounds of ammunition at
«The HKMA urges the public to be cautious of rumors and verify information carefully,» it added.
