Bank customers with yuan deposits in Hong Kong will not be getting higher interest on those deposits although Bank of China (Hong Kong) has raised the interest rate it offers on yuan that those banks hold with it.
Bankers said the interbank rate, which banks charge each other for short-term loans, was a more important determinant of the interest paid on yuan deposits than the rate BOCHK, the yuan clearing bank, offered.
There is no shortage of offshore yuan, as yuan deposits in Hong Kong rose for the fourth consecutive month in January.
via Business feed http://www.scmp.com/business/banking-finance/article/1167519/no-extra-interest-retail-yuan-deposits
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