Hong Kong Monetary Authority

Big Picture

BIS Innovation Hub, HKMA Publish Project Aurum Findings

By Editors | 24/10/2022

A two-tier prototype system was developed to test intermediated CBDC as well as stablecoins backed by CBDC in the interbank system.

Securities / Derivatives

HKMA Issues New Guidance on Investment Product Sales

By Editors | 24/10/2022

The new guidance covers investment product suitability, concentration risk assessments, and the sale of loss-absorption products.

Capital / Liquidity

HKMA Further Extends Loan Payment Holiday Scheme

By Editors | 20/10/2022

Businesses still face significant operational challenges due to a complex and uncertain external environment and economic outlook, the HKMA said.

Crypto / Digital Assets

Hong Kong Leader Announces Measures to Revitalise City

By Manesh Samtani | 20/10/2022

Lee’s administration will work to speed up the implementation of mutual market access arrangements with the mainland, among other measures.

Fintech / Regtech

HK Consumer Council Warns of Inadequate BNPL Protections

By Editors | 18/10/2022

The Consumer Council is calling on non-bank BNPL service providers to apply for a Money Lenders Licence and to implement consumer protection measures “as soon as possible”.

AML / KYC

HSBC Suspends Investment Services for Russian Clients in Hong Kong

By Editors | 18/10/2022

HSBC has reportedly sent a letter to most of its Russian retail clients in Hong Kong saying it is unable to provide them investment services because of sanctions imposed by the EU.

HKMA Revises Return Templates to Streamline Bank Reporting

By Editors | 18/10/2022

Banks are no longer required to report their top ten non-bank Mainland China exposures on an aggregate basis.

AML / KYC

Hong Kong Seeks Status as Global Hub for Virtual Assets

By Manesh Samtani | 17/10/2022

A new policy statement to be issued at Hong Kong FinTech Week may spell out plans to include retail investors in the city’s VASP regime.

Hong Kong Launches Sustainable Finance Internship Initiative

By Editors | 13/10/2022

A centralised repository has been launched offering information about green and sustainable finance internship openings offered by FIs and other companies.