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Market Infrastructure
Regulatory Harmonisation Critical to OTC Derivatives Reporting
By Priya Kundamal | 11/06/2021
The fragmentation of trade reporting rules and the lack of a common data set across jurisdictions hinders transparency and global risk monitoring, writes DTCC’s Priya Kundamal.
Capital / Liquidity
IMF Reaffirms Hong Kong Stability, Identifies Pockets of Risk
By Manesh Samtani | 10/06/2021
The IMF recommends enhancing monitoring of lending to Mainland China, increasing oversight over banking groups, and regulating mortgage lending by non-banks.
Fintech / Regtech
HKMA Announces New Fintech Development Strategy
By Editors | 09/06/2021
The “Fintech 2025” strategy seeks the comprehensive adoption of technology in the financial sector by 2025 through a focus on five key areas.
Capital / Liquidity
HKMA Issues Guidance on Counterparty Credit Risk Framework
By Editors | 03/06/2021
The guidance is aimed at facilitating consistent interpretation and application of the capital requirements under the BCR as amended in April.
SFC, HKMA Instruct Regulated Firms to Promote Vaccinations
By Manesh Samtani | 03/06/2021
The SFC says vaccinations are a critical part of operational risk management. The HKMA is requiring banks to submit a list of unvaccinated staff.
Capital / Liquidity
HKMA Considers Regulating Mortgage Lending by Nonbanks
By Manesh Samtani | 01/06/2021
Non-bank institutions such as finance companies and property developers have managed to circumvent the HKMA’s mortgage lending limits.
Sanctions
Hong Kong Considers Replacing State Street as TraHK Manager
By Editors | 26/05/2021
Officials reportedly commissioned an independent study to review State Street’s role in managing Hong Kong’s Tracker Fund.
AML / KYC
HKMA Urges Banks to Use iAM Smart in Remote Onboarding
By Manesh Samtani | 25/05/2021
The HKMA clarifies that when iAM Smart is used for identity verification, record keeping requirements may be met by retaining data obtained via API.
Market Infrastructure
HKMA Instructs Banks to Assess Need for Tertiary Data Backup
By Manesh Samtani | 18/05/2021
Banks are asked to critically assess the need to set up a secure tertiary data backup to guard against destructive cyber attacks.
Market Infrastructure
Is Asia Ready for the End of LIBOR?
By Li Renn Tsai | 17/05/2021
Li Renn Tsai compares progress in Asia’s main trading hubs, warning of a logjam of transition-related operational work that will pile up towards year-end.
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