viii)  In case of the emerge of extraordinary fluctuations in the market even at reasonable levels of excess liquidity, the Central Bank may allow the overnight interest rates to fluctuate between the Central Bank overnight borrowing and lending interest rates range by sterilizing the excess liquidity drained in overnight transactions through liquidity bills, New Turkish Lira deposit buying auctions and reverse repo auctions, in order to reduce the said fluctuations. ix)  In case of the emerge of a need to issue liquidity bills, information on auctions will be announced at Reuters’ “CBTL” page at 10:00 one working day prior to the auction rather than on the same day, to provide investors a longer time for evaluation. Information on auctions will continue to be announced to banks and financial intermediaries by Electronic Fund Transfer (EFT) system. Liquidity bill auctions will be held at 11:00 with the value date of the following working day, and the results will be announced until 11:30 at Reuters’ “CBTM” page. Auctions will be held by the traditional method. BIS Review 4/2008  9  x)  Information on New Turkish Lira deposit buying auctions will be announced at Reuters’ “CBTY” page; while information on reverse repo auctions will be announced at “CBTF” page at 10:00 on the same day.
Norman T L Chan: Building "Hong Kong" as a brand for financial services - beyond marketing Welcoming remarks by Mr Norman T L Chan, Chief Executive of the Hong Kong Monetary Authority, at the Treasury Markets Summit 2017, Hong Kong, 18 September 2017. * * * Ladies and gentlemen, 1. A few months ago when my staff asked me what I would wish to talk about at today’s Summit, my immediate response was “culture”. In a rather polite manner, my staff told me that I had spoken on this subject many times before and it would help the TMA sell the tables if I could talk about something else. I didn’t commit myself one way or the other and so I hope it won’t disappoint you too much if I am going to talk about culture and ethics again this morning. 2. That said, I am not totally insensitive to the audience’s desire to hear something different from me, so I am going to start with a true and, I hope, interesting story on what marketing can and cannot do. We all know and appreciate the importance of good marketing in the commercial world. Rule number one in marketing: No matter how good your product is, you need to undertake an effective campaign to reach out to your target customers to make them aware of the product and convince them that they should be interested in it.