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Fintech / Regtech
Impacts of New PCPD Guidance on Cross-border Data Transfers
By Albert Yuen | 27/06/2022
FIs in Hong Kong should review whether their commercial agreements contain requirements equivalent to the recommended model contractual clauses, say Albert Yuen and Eunice Lee.
Securities / Derivatives
HKMA, SFC to Proceed With Changes to FSP List
By Editors | 27/06/2022
One new entity, Nomura Financial Products Europe GmbH, is being added to the FSP List under the OTC derivatives regime.
Fintech / Regtech
HKMA to Prepare Roadmap for Promoting Key Fintech Areas
By Manesh Samtani | 23/06/2022
HKMA will formulate a detailed roadmap of initiatives to further promote Investech, Wealthtech, Insurtech and Greentech, as well as artificial intelligence and DLT.
Crypto / Digital Assets
BIS Innovation Hub Outlines Lessons from CBDC Experiments
By Manesh Samtani | 23/06/2022
The report covers four experiments, Project Inthanon-LionRock, Project Jura, Project Dunbar, and Project mBridge.
Securities / Derivatives
SFC Cites Conduct, Technology and Climate as Key Priorities
By Editors | 23/06/2022
The SFC’s latest annual report highlights work to enhance book building and placing practices, regulate fund trustees and custodians, and enhance climate disclosure for fund investors.
ESG / Sustainability
HKMA Asks Banks to Apply Basel Climate Risk Guidance
By Editors | 22/06/2022
The HKMA will assess the need to align its supervisory framework with BCBS Principles for managing and supervising climate-related financial risks.
Crypto / Digital Assets
BIS Innovation Hub Announces New Set of Projects
By Editors | 20/06/2022
The first three Eurosystem Centre projects will focus on crypto markets, quantum-resistant cryptography for payments, and climate-related disclosures.
Capital / Liquidity
HKMA Seeks Bank Feedback on Lower Lending Rate Caps
By Manesh Samtani | 20/06/2022
Proposed amendments would lower the interest rate cap from 60 to 48 percent p.a., and the so-called ‘extortionate’ rate from 48 to 36 percent p.a.
Market Infrastructure
US Fed Raises Interest Rates by Most Since in 28 Years
By Editors | 16/06/2022
The HKMA has responded with a 75bp interest rate hike of its own, after intervening overnight to defend the HKD peg to the US dollar.
Market Infrastructure
HKMA Chief Outlines Plans to Enhance CMU Services
By Editors | 13/06/2022
The Central Moneymarkets Unit will be further commercialised and upgraded in phases over three years. A new platform will be launched in 2025.
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