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Crypto / Digital Assets
HKMA Report Assesses Spillover Risk from Asset-Backed Stablecoins
By Mark Johnston | 28/11/2022
The report finds that failures of stablecoins or other crypto assets pose material impacts on the traditional financial system such as the money market.
Capital / Liquidity
HKMA Confirms Decision to Defer Implementation of Basel III Reforms
By Editors | 28/11/2022
Hong Kong’s implementation of the Basel III final reform package is being deferred to allow the industry more time to prepare.
ESG / Sustainability
HKMA Report Calls Out Greenwashing by Green Bond Issuers
By Mark Johnston | 28/11/2022
The report shows that so-called greenwashing firms are to some extent being penalised by the market with higher re-issuance costs.
AML / KYC
HKMA, Cyberport Host Third AML Regtech Lab
By Sanday Chongo Kabange | 25/11/2022
The HKMA says retail banks increased their identification and reporting of suspicious accounts and networks by 127 percent compared to a year ago.
Fintech / Regtech
ZA Bank, Wise Partner to Offer International Remittances
By Manesh Samtani | 24/11/2022
ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress.”
Fintech / Regtech
HKMA Revises Guidance on Accessing CCRA Database via CDI
By Editors | 17/11/2022
Banks can access commercial credit reference agencies via the CDI to automate credit approval processes, reduce manual handling, and enhance operational efficiency.
Capital / Liquidity
HKMA Proposes Changes to Approach for Setting CCyB
By Editors | 14/11/2022
The HKMA proposes to maintain a Positive Neutral CCyB of 1 percent even when its primary indicators maybe signal a lower applicable CCyB.
HK Banks Offer ‘PAPT’ Option for Mortgage Refinance Transactions
By Editors | 08/11/2022
The PAPT is being introduced to address risks that could arise for residential mortgage customers if a law firm handling a transaction is suspended.
Market Infrastructure
Hong Kong, Macau Enable Real-time Payments Between Banks
By Editors | 03/11/2022
Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.
Market Infrastructure
Hong Kong to Subject Foreign Investment Gains to Profits Tax
By Manesh Samtani | 02/11/2022
A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.
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