HONG KONG, March 19 (Xinhua) -- Hong Kong's composite interest rate fell slightly by 3 basis points to 0.25 percent by February 2013, from 0.28 percent at the end of the previous month, the Hong Kong Monetary Authority announced Tuesday.
The decrease in the composite interest rate, which is a measure of the average cost of funds of banks, in February reflected declines in the weighted funding costs for both deposits and interbank funds.
The composite interest rate is a weighted average interest rate of all Hong Kong dollar interest bearing liabilities, which include deposits from customers, amounts due to banks, negotiable certificates of deposit and other debt instruments, and Hong Kong dollar non-interest bearing demand deposits on the books of banks.
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