Hong Kong Exchanges and Clearing is introducing new incentives for market participants in the renminbi futures market to support its development.
Hong Kong regulators have concluded their industry consultation on the record-keeping and reporting rules for over-the-counter derivatives, and noted that the reporting obligation for OTC will be implemented in phases.
The decision reveals its role in China’s overall plan to evolve the RMB into an international investment currency.
The Hong Kong Monetary Authority said it is removing the daily limit for converting the city’s currency to Chinese yuan when the landmark Shanghai-Hong Kong stock trade program is launched on Monday.
Hong Kong’s financial regulator is looking into the loan exposure of Taiwanese banks to mainland Chinese companies and has launched an onsite probe into the matter.
The Hong Kong Monetary Authority and Banque de France have signed an agreement to cooperate in enhancing the offshore renminbi business between the two jurisdictions.
Hong Kong Monetary Authority has issued the revised capital and liquidity rules for the banking sector in view of the second phase of Basel III requirements which will take effect from January next year.
Regulatory concerns surrounding the Shanghai-Hong Kong stock connect including the issue of tax on share gains have compelled asset managers and banks to ask the city’s regulator for a month’s notice before implementing the cross-border stock scheme.
Hong Kong has issued new guidelines for the banking industry on how to meet its data protection obligations amid rising number of complaints against banks’ privacy protection practices.
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