HONG KONG

Capital / Liquidity

HKMA Consults on Amendments to Hong Kong Banking Ordinance

By Manesh Samtani | 06/12/2024

Among other things, the HKMA proposes to establish a statutory regime enabling it to exercise direct regulatory and supervisory powers over holding companies of banks.

AML / KYC

Hong Kong Banks to Extend Fraud Alerting Service to ATMs

By Manesh Samtani | 06/12/2024

Starting from 8 December 2024, 22 participating banks will gradually implement the alert mechanism at their ATMs.

Capital / Liquidity

HKMA Launches New ‘Special Scheme’ to Aid Homebuyers

By Manesh Samtani | 05/12/2024

The scheme allows a higher LTV ratio and DSR limit for homebuyers who bought residential properties when prices were higher from 2021 to 2023.

Market Infrastructure

HK Banks Making ‘Good Progress’ on Operational Resilience: HKMA

By Manesh Samtani | 04/12/2024

HKMA’s Carmen Chu said all Hong Kong banks have developed the relevant frameworks and most are now conducting mapping and scenario testing exercises.

AML / KYC

HKMA Announces Two New Anti-Scam Measures for Banks

By Sanday Chongo Kabange | 04/12/2024

“Money Safe” will allow customers to segregate a portion of their deposits and protect it from fund outflows, similar to Singapore’s “Money Lock”.

Market Infrastructure

HKEX Advancing Work to Add Repo, CDS to Swap Connect

By Georgina Lee | 03/12/2024

HKEX’s Jacky Mak said the exchange operator is working to expand the scope of Swap Connect to include cross-border repo contracts and credit default swaps.

Capital / Liquidity

HKMA Revises Guideline for Bank on Capital Adequacy Regime

By Editors | 03/12/2024

The revised SPM module incorporates changes to align with the Basel III final reforms which take effect from 1 January 2025.

Crypto / Digital Assets

Hong Kong Circulates Tax Break Proposal for Hedge Funds, Family Offices

By Nithya Subramanian | 03/12/2024

The proposal will expand the tax exemptions for PE funds, hedge funds and family offices to cover gains from virtual assets, carbon credits, and other asset classes.

Market Infrastructure

HKMA Issues New Statutory Guideline on Cyber Risk Management

By Manesh Samtani | 03/12/2024

The SPM module articulates the HKMA’s policy, overarching principles, and supervisory approach on banks for managing cyber risks.