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Market Infrastructure
HKMA, PBOC Collaborate on Cross Border Financial Services – Report
By Editors | 20/02/2019
As part of a plan to develop the Greater Bay Area, the HKMA and PBOC are reportedly planning to work together on the introduction of cross-border mobile payments and other financial services.
AML / KYC
HKMA’s Regulatory Expectations of Remote Customer On-boarding
By Editors | 05/02/2019
Remote onboarding technology should be able to authenticate customer identities through document image acquisition and “incontrovertibly” link identities through biometrics.
Fintech / Regtech
Global Innovation Sandbox Opens for Cross Border Testing
By Editors | 04/02/2019
The GFIN’s 29 members include the HKMA, SFC, MAS and ASIC. Applications are now open for firms looking to test innovative cross border financial services.
Big Picture
IMF Commends Hong Kong for Robust Financial Regulation and Supervision
By Editors | 28/01/2019
The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city’s outlook.
Market Infrastructure
HKEX Enables Central Clearing for Deliverable FX Forwards, Swaps
By Manesh Samtani | 25/01/2019
Enabled by Traiana infrastructure, HKEX OTC Clear is offering the first clearing service for deliverable FX forwards and swaps in the USD/CNH and USD/HKD currency pairs.
Capital / Liquidity
HKMA Asks Banks to Start Working on FRTB Implementation
By Editors | 21/01/2019
The HKMA circular follows last week’s publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.
Market Infrastructure
HKMA Urges Banks to Foster Sound Culture – Speech
By Manesh Samtani | 18/01/2019
In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.
Fintech / Regtech
Hong Kong Gets First API Exchange Platform in Open Banking Push
By Manesh Samtani | 17/01/2019
JETCO launches the city’s first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.
Capital / Liquidity
HKMA Banking Securitisation Code Takes Effect
By Editors | 14/01/2019
The Code provides guidance on the qualifying conditions to use the internal assessment approach for calculating the capital requirement for certain securitisation exposures.
Market Infrastructure
Hong Kong Lawmakers Push for Consumer Data Protections – Report
By Editors | 08/01/2019
Lawmakers are pushing for greater oversight of credit reference agencies following the discovery of security loopholes in TransUnion’s online service for credit reports.
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