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ESG / Sustainability
HKMA Invites Banks to Participate in Climate Stress Testing Pilot
By Editors | 07/12/2020
Participating banks will need to assess physical risk and transition risk separately under different scenarios, and evaluate the financial impact in both the short term and long term.
Fintech / Regtech
HKMA, PBOC Prepare for Cross-border Testing of Digital Yuan
By Manesh Samtani | 06/12/2020
The HKMA is also exploring options to leverage the FPS to enable instantaneous cross-border payments, according to chief executive Eddie Yue.
Market Infrastructure
HKMA Unveils New FPS Feature Allowing Link to HKID
By Sanday Chongo Kabange | 02/12/2020
From 6 December onwards, individuals can link their HKID numbers to a bank account to conveniently receive payments, the HKMA said.
Capital / Liquidity
HKMA Consults on Revised SPM on Group-wide Bank Supervision
By Editors | 02/12/2020
The revised SPM accounts for holding companies established overseas and intermediate holding companies, including those that are unregulated or engaged in non-financial activities.
Fintech / Regtech
Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA
By Editors | 30/11/2020
The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.
Enforcement
SFC Bans Ex-StanChart Banker For Concealing Personal Trades
By Editors | 25/11/2020
The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.
Market Infrastructure
HKMA Urges Continued Efforts to Advance Bank Culture Reform
By Manesh Samtani | 24/11/2020
In a recent keynote address, the HKMA’s Alan Au discussed seven common themes that were identified from banks’ self-assessments of culture reforms.
Capital / Liquidity
HKMA Updates Rules for Banks’ Equity Investments in Funds
By Editors | 22/11/2020
The HKMA consulted on local implementation of the standard in January 2019. The new consultation contains amendments reflecting industry feedback.
Market Infrastructure
HKMA Expands List of Eligible Collateral for RMB Facility
By Editors | 21/11/2020
Eligible collateral will include RMB, USD and EUR debt securities issued offshore by China’s central bank, Ministry of Finance or policy banks.
Capital / Liquidity
HKMA Consults on Local Implementation of Final Basel III Reforms
By Editors | 19/11/2020
The consultation is open until 6 January 2021, ahead of industry engagement in 2021, legislative amendments in 2022, and a 1 January 2023 target implementation date.
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