Hong Kong Monetary Authority

HK Banks Extend Repayment Deferment for Trade Facilities

By Editors | 12/01/2022

The HKMA cited uncertainties caused by the spread of Covid-19 and global supply chain disruptions that are continuing to pressure corporates.

Capital / Liquidity

HKMA Unveils Results of Climate Risk Stress Tests

By Manesh Samtani | 03/01/2022

The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.

HK Regulators to Assess Sales Practices of Tax-deductible Products

By Mark Johnston | 03/01/2022

A mystery shopping programme is being launched by the HKMA, MPFA and IA to assess the extent to which statutory and regulatory objectives are being met by intermediaries.

HKMA Endorses Proposal to Better Protect Mortgage Borrowers

By Editors | 31/12/2021

The proposal will make use of electronic payments directly from bank to bank, rather than routing payments for large property transactions through law firms.

HKMA Issues Guidance on Compliance with ‘Stay Rules’

By Editors | 30/12/2021

The HKMA may issue directions to banks or their holding companies if it believes non-compliance with the Stay Rules (including by a related company) may impede orderly resolution.

Fintech / Regtech

BOT to Delay Testing of Retail CBDC to Late 2022

By Editors | 30/12/2021

After discussions with relevant parties and careful consideration, Thailand will proceed slowly, said BOT deputy director Kasidit Tansanguan.

Capital / Liquidity

HKMA Removes Bank of East Asia from D-SIBs List

By Editors | 28/12/2021

The Bank of East Asia was no longer identified as a D-SIB in the assessment considering its systemic importance relative to other institutions, the HKMA said.

Market Infrastructure

HKMA Moves to Reduce LIBOR-related Reporting Frequency

By Editors | 24/12/2021

The move from monthly reporting back to quarterly reporting means the next reporting position after December 2021 will be March 2022.

AML / KYC

HKMA Asks Banks for ‘Active Participation’ in CDI Initiative

By Editors | 23/12/2021

The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.