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AML / KYC
The Four e-KYC Models Around the World
By Claus Christensen | 05/04/2020
Claus Christensen at Know Your Customer Ltd identifies four e-KYC models in use across the world, but says that harmonisation and consolidation of these schemes is likely.
Market Infrastructure
Xiaomi-backed Virtual Bank Launches Hong Kong Pilot
By Editors | 31/03/2020
The pilot will allow 2,000 friends and relatives of Airstar, Xiaomi and AMTD Group employees to trial new virtual banking services under the HKMA’s sandbox.
Capital / Liquidity
HKMA Defers Basel III, Reviews ECL Provisioning Expectations
By Editors | 30/03/2020
Aside from deferring Basel III adoption, the HKMA is considering the implications of Covid-19 on the application of expected credit loss provisioning.
Securities / Derivatives
Hong Kong to Update List of FSPs Under Clearing Obligation
By Editors | 27/03/2020
Eight additional entities are proposed to be included on the list of Financial Services Providers under the OTC derivatives clearing regime.
ZA Bank Announces Launch as Hong Kong’s First Virtual Bank
By Editors | 25/03/2020
ZA Bank – backed by mainland insurer ZhongAn Online P&C Insurance and Sinolink Group – won one of the first approvals to set up a virtual bank in March last year.
Capital / Liquidity
HK, Singapore, Indonesia Assessed as NSFR, LEX Compliant
By Editors | 22/03/2020
Hong Kong, Singapore and Indonesia were assessed as compliant with global standards for the net stable funding ratio and large exposures framework.
Market Infrastructure
IMF Offers Guidance on Offsetting Economic Impact of Covid-19
By Editors | 17/03/2020
Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.
Capital / Liquidity
HKMA Responds to Fed Rate Cut, Reduces CCyB
By Editors | 16/03/2020
The base rate is being adjusted downwards to 0.86%, while the countercyclical capital buffer is being reduced from 2.0% to 1.0% to bolster lending.
Fintech / Regtech
Outsourcing Requirements for Hong Kong Banks: An Overview
By Philip Keller | 10/03/2020
Industry veteran Philip Keller outlines outsourcing requirements for banks in Hong Kong, with a focus on data, a major area of concern in relation to outsourced activities.
Market Infrastructure
Standard Chartered-backed Virtual Bank to Launch Later This Year
By Editors | 09/03/2020
Standard Chartered, PCCW, HKT and Trip.com will launch ‘Mox Bank’ later this year, introducing an all-in-one numberless bank card.
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