Hong Kong

Market Infrastructure

HKMA Proposes New Code of Practice for Banks’ Trust Companies

By Manesh Samtani | 13/07/2020

The HKMA is looking to address a lack of conduct requirements for trust businesses used by banks and their subsidiaries for wealth management purposes.

Market Infrastructure

HKMA Sets Out Key LIBOR Transition Milestones for Banks

By Manesh Samtani | 12/07/2020

Fall-back provisions should be in place by January 2021, and authorised institutions should cease to issue new LIBOR-linked products maturing after 2021 by 30 June 2021.

Market Infrastructure

Hong Kong Passes Limited Partnership Fund Bill

By Editors | 12/07/2020

The limited partnership fund regime is aimed at attracting private equity, real estate, and venture capital funds to set up and operate in Hong Kong.

Securities / Derivatives

HKEX Launches Master SPSA Service for Fund Managers

By Editors | 10/07/2020

The new service allows pre-trade checking of China A shares for northbound Stock Connect trading at the fund manager or aggregate level.

AML / KYC

Chinese Banks Plan for Possible US Sanctions – Report

By Editors | 09/07/2020

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

Market Infrastructure

HKEX Clears First HONIA-based Interest Rate Swaps

By Manesh Samtani | 09/07/2020

The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.

ESG / Sustainability

HKMA Offers Guidance for Banks on Climate Risk Practices

By Manesh Samtani | 08/07/2020

The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.

Capital / Liquidity

BCBS Releases 18th Progress Report on Basel III Adoption

By Editors | 06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

AML / KYC

Global Banks Seek Clarity on ‘Hong Kong Autonomy Act’

By Editors | 05/07/2020

Under the legislation, banks can be penalised for conducting a ‘significant transaction’ with Chinese individuals or entities named as having contributed to the erosion of Hong Kong’s autonomy.