HONG KONG MONETARY AUTHORITY

    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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