Hong Kong is requiring the city’s largest banks to set aside more capital to cushion against unexpected losses and pose less risk to the financial system.
Hong Kong Exchanges and Clearing Ltd plans to add more stocks to be traded under the Shanghai-Hong Kong cross border trading scheme ahead of the proposed opening of the Shenzhen-Hong Kong link within the year.
The Hong Kong Monetary Authority has endorsed a revised code of banking practice that requires the city’s banks to uphold international banking practices in areas of disclosure and transparency, responsible business conduct and financial education.
Hong Kong’s top regulator said preparations are under way to connect the city’s stock exchange with Shenzhen’s stock market, similar to the cross-border stock trading scheme with Shanghai.
Hong Kong Monetary Authority aims to create adequate capital buffer to boost the resilience of the city’s banking system with the adoption of global cash buffer standards next year.
Hong Kong financial regulators is seeking public views on specific aspects of so-called resolution regime for financial institutions that should make the city’s financial system stable and resilient in the face of crisis and economic shocks.
China Securities Regulatory Commission plans to allow more Chinese companies to list overseas and pledged increased collaboration with Hong Kong in developing the capital markets.
Hong Kong Exchanges and Clearing Ltd. plans to introduce new trading controls to make the securities and derivatives markets more efficient and globally competitive.
The Securities and Futures Commission and the European Securities and Markets Authority (ESMA) have agreed to enhance cooperation in overseeing Hong Kong-established central counter parties seeking recognition by ESMA.
Hong Kong Exchanges and Clearing said it is working with certain overseas regulators and institutional investors to improve market’s understanding of Shanghai-Hong Kong Stock Connect which went live in November.