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Hong Kong
Capital / Liquidity
HKMA Consults on Amendments to Hong Kong Banking Ordinance
By Manesh Samtani | 06/12/2024
Among other things, the HKMA proposes to establish a statutory regime enabling it to exercise direct regulatory and supervisory powers over holding companies of banks.
AML / KYC
Hong Kong Banks to Extend Fraud Alerting Service to ATMs
By Manesh Samtani | 06/12/2024
Starting from 8 December 2024, 22 participating banks will gradually implement the alert mechanism at their ATMs.
Capital / Liquidity
HKMA Launches New ‘Special Scheme’ to Aid Homebuyers
By Manesh Samtani | 05/12/2024
The scheme allows a higher LTV ratio and DSR limit for homebuyers who bought residential properties when prices were higher from 2021 to 2023.
Market Infrastructure
HK Banks Making ‘Good Progress’ on Operational Resilience: HKMA
By Manesh Samtani | 04/12/2024
HKMA’s Carmen Chu said all Hong Kong banks have developed the relevant frameworks and most are now conducting mapping and scenario testing exercises.
AML / KYC
HKMA Announces Two New Anti-Scam Measures for Banks
By Sanday Chongo Kabange | 04/12/2024
“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.
Market Infrastructure
HKEX Advancing Work to Add Repo, CDS to Swap Connect
By Georgina Lee | 03/12/2024
HKEX’s Jacky Mak said the exchange operator is working to expand the scope of Swap Connect to include cross-border repo contracts and credit default swaps.
Capital / Liquidity
HKMA Revises Guideline for Bank on Capital Adequacy Regime
By Editors | 03/12/2024
The revised SPM module incorporates changes to align with the Basel III final reforms which take effect from 1 January 2025.
Crypto / Digital Assets
Hong Kong Circulates Tax Break Proposal for Hedge Funds, Family Offices
By Nithya Subramanian | 03/12/2024
The proposal will expand the tax exemptions for PE funds, hedge funds and family offices to cover gains from virtual assets, carbon credits, and other asset classes.
Market Infrastructure
HKMA Issues New Statutory Guideline on Cyber Risk Management
By Manesh Samtani | 03/12/2024
The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.
ESG / Sustainability
Deadline Looms for Hong Kong-Listed Firms to Get Women on Board
By Mark Johnston | 02/12/2024
With an end-December deadline looming, 250 Hong Kong-listed companies are under pressure to appoint at least one woman to their boards.
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