Hong Kong Monetary Authority

Market Infrastructure

HK, Japan to Connect Settlement Systems

By JP Reimann | 19/04/2018

BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.

AML / KYC

HK Banks Introducing Biometrics Expected to Comply With IT Upgrade Guidelines

By JP Reimann | 17/04/2018

Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.

Fintech / Regtech

Hong Kong’s Fintech Sandbox Risks Alienating Innovators

By Manesh Samtani | 28/02/2018

HKMA financial technology sandbox needs to evolve to maximise value for all concerned, a new study suggests.

Enforcement

RBI Under Fire for Failure to Detect $1.8bn Loan Fraud

By Manesh Samtani | 21/02/2018

Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.

AML / KYC

Border Cash Declarations Won’t Halt HK Money Laundering

By Peter Guy | 19/02/2018

For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.

Fintech / Regtech

HKMA Virtual Bank Rules – Dull, Timid Bureaucracy

By Peter Guy | 12/02/2018

Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.

Capital / Liquidity

HK Gives Banking Disruptors a Chance, for $38mn

By Samuel Riding | 07/02/2018

Deputy chief of Monetary Authority also says banks cannot use ‘predatory tactics’ when competing for market share.

Capital / Liquidity

Hong Kong Amends Banking Rules on Recovery Planning, Large Exposure Limits

By Garima Chitkara | 06/02/2018

New rules will bring Hong Kong bank regulatory regime in line with international standards.

Capital / Liquidity

HK Hikes Capital Buffer Due to High Credit-GDP, Property-Rent Gaps

By Samuel Riding | 15/01/2018

Central bank chief expresses concern about growing gaps between credit and GDP, property prices and rents.