Hong Kong Monetary Authority

Capital / Liquidity

HKMA Consults on Implementation of Revised CVA Risk Framework

By Editors | 17/12/2020

The revised CVA risk capital framework is likely to have significant impacts on banks, particularly for those with material CVA risk exposures, the HKMA says.

AML / KYC

Hong Kong Set to Tighten Rules for Digital Wallets July 2021

By Editors | 15/12/2020

Non-real-name account holders will not be able to transfer money to other banks or e-wallets, or make cross-border remittances.

Market Infrastructure

PBOC, HKMA Explore Southbound Leg for Bond Connect

By Editors | 09/12/2020

The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.

ESG / Sustainability

HKMA Invites Banks to Participate in Climate Stress Testing Pilot

By Editors | 07/12/2020

Participating banks will need to assess physical risk and transition risk separately under different scenarios, and evaluate the financial impact in both the short term and long term.

Fintech / Regtech

HKMA, PBOC Prepare for Cross-border Testing of Digital Yuan

By Manesh Samtani | 06/12/2020

The HKMA is also exploring options to leverage the FPS to enable instantaneous cross-border payments, according to chief executive Eddie Yue.

Market Infrastructure

HKMA Unveils New FPS Feature Allowing Link to HKID

By Sanday Chongo Kabange | 02/12/2020

From 6 December onwards, individuals can link their HKID numbers to a bank account to conveniently receive payments, the HKMA said.

Capital / Liquidity

HKMA Consults on Revised SPM on Group-wide Bank Supervision

By Editors | 02/12/2020

The revised SPM accounts for holding companies established overseas and intermediate holding companies, including those that are unregulated or engaged in non-financial activities.

Fintech / Regtech

Lack of Electronic Solutions Hindering Capital Market Access: ASIFMA

By Editors | 30/11/2020

The report calls on government and regulators to facilitate greater use of e-signatures, virtual meetings, and other electronic solutions in Hong Kong and Singapore capital markets.

Enforcement

SFC Bans Ex-StanChart Banker For Concealing Personal Trades

By Editors | 25/11/2020

The SFC’s decision followed a referral from the HKMA, which discovered that the former banker also wilfully misrepresented himself to the Appeals Tribunal.