Hong Kong

Capital / Liquidity

HKMA Responds to Fed Rate Cut, Reduces CCyB

By Editors | 16/03/2020

The base rate is being adjusted downwards to 0.86%, while the countercyclical capital buffer is being reduced from 2.0% to 1.0% to bolster lending.

Enforcement

SFC Considers Easing Data Storage Rules – Report

By Editors | 11/03/2020

Industry bodies are reportedly working with the SFC to clarify the rules and make compliance easier, though it is unclear what specific steps it will take to ease the requirements.

Fintech / Regtech

Outsourcing Requirements for Hong Kong Banks: An Overview

By Philip Keller | 10/03/2020

Industry veteran Philip Keller outlines outsourcing requirements for banks in Hong Kong, with a focus on data, a major area of concern in relation to outsourced activities.

Market Infrastructure

Standard Chartered-backed Virtual Bank to Launch Later This Year

By Editors | 09/03/2020

Standard Chartered, PCCW, HKT and Trip.com will launch ‘Mox Bank’ later this year, introducing an all-in-one numberless bank card.

Market Infrastructure

HKMA Invites Tenders to Enhance Payments, Securities Infrastructures

By Editors | 09/03/2020

The HKMA is inviting tenders to provide consultancy services to help enhance its core financial market infrastructures, particularly in the areas of payments and securities.

Securities / Derivatives

HKEX Sets Tentative Launch Dates for VCM, POS Enhancements

By Editors | 09/03/2020

The volatility control mechanism will be expanded to over 500 stocks in May 2020. The enhanced pre-opening session for stocks and listed funds will be introduced in October 2020.

Securities / Derivatives

Hong Kong Bourse Publishes Updated ESG Reporting Guidance

By Editors | 08/03/2020

The additional guidance follows a December decision to make certain ESG disclosures mandatory, effective for financial years commencing on or after 1 July 2020.

Securities / Derivatives

HKMA Sets Out Expectations on Algo-Trading Risk Management

By Editors | 06/03/2020

During thematic examinations last year, the HKMA observed a number of sound practices used by some institutions to manage the risks associated with algorithmic trading.

Market Infrastructure

HK Entities of Chinese Groups Get Relief from CbC Filing Obligation

By Editors | 05/03/2020

Mainland China and Hong Kong have entered into an arrangement for the automatic exchange of country-by-country reports, a welcoming development according to KPMG.