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Market Infrastructure
HKMA Unveils Enhanced Competency Framework on Operational Risk
By Editors | 20/12/2020
The new Enhanced Competency Framework is aimed at raising the professional competence of practitioners working in the operational risk management function of banks.
Fintech / Regtech
HKMA Outlines Regtech Use Cases for Pandemic Environment
By Editors | 18/12/2020
In its fifth issue of ‘Regtech Watch’, the HKMA outlines four potential regtech use cases relevant to the pandemic environment.
ESG / Sustainability
Hong Kong Launches Strategic Plan for Greener Financial Ecosystem
By Manesh Samtani | 17/12/2020
A cross-agency steering group has announced a green and sustainable finance strategy for Hong Kong and five key action points.
Capital / Liquidity
HKMA Consults on Implementation of Revised CVA Risk Framework
By Editors | 17/12/2020
The revised CVA risk capital framework is likely to have significant impacts on banks, particularly for those with material CVA risk exposures, the HKMA says.
AML / KYC
Hong Kong Set to Tighten Rules for Digital Wallets July 2021
By Editors | 15/12/2020
Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.
Market Infrastructure
PBOC, HKMA Explore Southbound Leg for Bond Connect
By Editors | 09/12/2020
The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.
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.
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