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Chinese Regulators Announce Coronavirus Support Measures
By Manesh Samtani | 30/01/2020
PBOC has extended the Lunar New Year closure of financial markets until 3 February and vowed to inject liquidity into the markets when they reopen.
Capital / Liquidity
HKMA Maintains 2% CCyB Amid ‘Uncertain’ Environment
By Editors | 30/01/2020
HKMA chief Eddie Yue says it is appropriate to maintain the CCyB at 2.0% to allow more time to “observe the trend”.
Enforcement
SFC Suspends RHB Securities AE for Unauthorised Discretionary Trades
By Editors | 30/01/2020
The account executive conducted discretionary trades for a client account for almost two years without obtaining written authorisation.
Enforcement
SFC Launches Proceedings Against China Ding Yi Feng Manipulators
By Editors | 23/01/2020
On its first day of trading after a 10-month suspension, China Ding Yi Feng has lost 90% of its value, representing HKD 25 billion in lost market value.
Market Infrastructure
HKMA Consults on Contractual Stay Provisions in Financial Contracts
By Editors | 23/01/2020
FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.
Fintech / Regtech
HKMA, BOT Announce Outcomes of Joint CBDC Research
By Editors | 23/01/2020
In 3Q 2019, eight Thai banks and two Hong Kong banks (HSBC and ZA Bank) participated in a THB-HKD cross-border corridor network PoC using a CBDC.
Fintech / Regtech
HKMA to Set Up ‘Digitalisation Office’ to Implement Transformation
By Editors | 22/01/2020
The progressive development of digitalisation initiatives will bring profound changes to how the HKMA works and further enhance its efficiency, says deputy chief Howard Lee.
Capital / Liquidity
HK Banks Pledge Continued Leniency for SME Borrowers
By Editors | 21/01/2020
At the second meeting of the Banking Sector SME Lending Coordination Mechanism, established in October, banks agreed to a number of additional measures to aid SME borrowers.
Securities / Derivatives
SFC Offers Brokers, Fund Managers Guidance on Risk Governance
By Editors | 21/01/2020
Senior management, including the board, responsible officers and MICs will be held accountable for the overall risk management control of their firms.
Big Picture
Moody’s Downgrades Hong Kong, Citing Lack of Response to Unrest
By Editors | 21/01/2020
The absence of an effective response by Hong Kong’s government to address the concerns of the population indicate weaker institutional and governance strength.
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