HONG KONG MONETARY AUTHORITY

Fintech / Regtech

China, UAE Join HKMA-BOT Initiative to Create CBDC Bridge

By Manesh Samtani | 23/02/2021

The project, now called ‘m-CBDC Bridge’, will seek the development of a prototype to facilitate real-time cross-border transactions using multiple CBDCs.

Market Infrastructure

HKMA Raises Expectations for Bank Codes of Conduct

By Manesh Samtani | 14/02/2021

Codes of Conduct should include provisions to address conflicts of interest, promote a culture of accountability and encourage staff to report unethical practices.

Fintech / Regtech

HSBC, HKTVmall Join Forces to Enhance Access to Trade Finance

By Manesh Samtani | 11/02/2021

HSBC will leverage commercial data from HKTVmall to analyse and forecast business performance during credit assessment, making loan approval faster and simpler.

AML / KYC

HK Banks Told to Stop Accepting BNO Passports as Valid ID

By Editors | 09/02/2021

The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.

HKMA Extends Initiative to Nurture Talent for Banking Industry

By Editors | 08/02/2021

The HKMA will continue to reimburse participating institutions up to 50% of the monthly salary of programme participants and subsidise professional training course fees.

AML / KYC

Greater Bay Regulators Sign MoU on Wealth Management Connect

By Manesh Samtani | 07/02/2021

The regulators agree to issue guidance to banks on product due diligence, investor protection, AML/CFT requirements and personal data protection, among other areas.

Capital / Liquidity

HK Bank Profitability Suffers, Loan Quality Deteriorates

By Editors | 04/02/2021

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Fintech / Regtech

What Hong Kong Can Learn From Open Banking in the UK

By Eran Vitkon | 02/02/2021

The UK model provides lessons to help ensure Hong Kong’s open banking ecosystem is able to realise its full potential, say Finastra’s Eran Vitkon and Shweta Jain.

Market Infrastructure

HKMA Drafts Guidance on Operational Continuity in Resolution

By Editors | 01/02/2021

Operational continuity in resolution is a key aspect of resolution planning for individual banks, the HKMA says.