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Big Picture
Third Global Financial Crisis May Be Imminent: ex-HKMA Chief
By Sanday Chongo Kabange | 30/07/2020
Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.
Fintech / Regtech
WeLab Bank Announces Public Launch of Virtual Banking Services
By Editors | 30/07/2020
WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.
Fintech / Regtech
HKMA Asks Banks to Participate in KPMG Regtech Stocktake
By Editors | 27/07/2020
HKMA has appointed KPMG as an external consultant to conduct surveys and interviews with banks and technology firms on Regtech development in Hong Kong.
Market Infrastructure
HKMA Aligns Benchmark Reform Guidance for Banks with BCBS
By Editors | 26/07/2020
HKMA’s new guidance covers issues with benchmark reform relating to the definition of capital, market risk, counterparty credit risk, liquidity and operational risk.
Market Infrastructure
‘Business As Usual’ for Hong Kong Banks, says HKMA Chief
By Editors | 23/07/2020
Chief executive Eddie Yue said the HKMA does not see that the national security law would affect the normal conduct of business in Hong Kong, provided it is permissible under existing regulations.
Fintech / Regtech
BOT Enters Third Phase of CBDC Development
By Editors | 19/07/2020
The BOT is planning to expand CBDC use among large businesses and, in September, to transactions with the HKMA.
AML / KYC
APAC Regulators Driving Digital Transformation
By Rachel Woolley | 16/07/2020
The pandemic has made it abundantly clear that digital transformation is no longer optional, says Fenergo’s Rachel Woolley.
AML / KYC
Sustainable Supply Chains and the Role Banks Play
By Editors | 14/07/2020
Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.
Market Infrastructure
ASIFMA Publishes IBOR Transition Guide for Asia
By Editors | 14/07/2020
The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.
Market Infrastructure
HKMA Proposes New Code of Practice for Banks’ Trust Companies
By Manesh Samtani | 13/07/2020
The HKMA is looking to address a lack of conduct requirements for trust businesses used by banks and their subsidiaries for wealth management purposes.
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