Hong Kong’s interbank liquidity is severely strained as local banks borrowed a record $707 million, the highest amount in over five years. The Hong Kong Monetary Authority, the city’s de facto central bank, stepped in to offer temporary cash through its discount window. This surge in borrowing comes as demand for Hong Kong equities has increased significantly. The rally has put pressure on the financial system. The city's funding costs have spiked to a near six-week high of 4.07%.

Hong Kong interbank liquidity hits 5-year low

China's central bank introduces new tool to manage liquidity and interest rates

Regulators rally financial support for China Vanke amid liquidity concerns

The widest liquidity deficit in more than four years is grappling India's banking system. The nation's financial institutions are facing unanticipated difficulties due to record central bank borrowings and a significant outflow of funds for tax payments.

India's banking system faces severe liquidity deficit | Word Business Watch

Did China sense SVB, Credit Suisse aftershocks? Banks' reserve ratio cut for the first time in 2023

Will make liquidity available to Credit Suisse if required, says Swiss central bank

Jet Airways receives EoIs from Anil Agarwal’s family trust, two other companies

Technical glitches and shortage of cash in ATMs left several people stranded as they struggled to pay for basic goods

India's rupee demonetisation: ATMs run dry to worsen cash chaos

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