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Market Infrastructure
HKMA Defers Trade Facility Repayments by a Further 90 Days
By Editors | 05/08/2020
Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.
Fintech / Regtech
HKMA, BIS Innovation Lab Seek Solutions in Trade Finance
By Editors | 03/08/2020
Private firms are invited to submit innovative solutions that can help enhance trade finance mechanisms, connectivity and infrastructure.
ESG / Sustainability
Culture Audits: Removing the Blindfold
By Stephen Scott | 03/08/2020
To avoid individual liability, leaders along all Three Lines of Defence must identify indicators of non-financial risk that permit “upstream” interventions, say Stephen Scott and Mark Cooke.
Securities / Derivatives
HKMA Relaxes Rules on Retail Sales of Government Bonds
By Editors | 02/08/2020
Banks can forgo suitability assessments and audio recordings when distributing low-risk, non-complex retail tranches of Hong Kong or Mainland government bonds.
AML / KYC
HKMA Issues AML Guidance to Banks As Pandemic Persists
By Manesh Samtani | 30/07/2020
The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.
Big Picture
Third Global Financial Crisis May Be Imminent: ex-HKMA Chief
By Sanday Chongo Kabange | 30/07/2020
Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.
Fintech / Regtech
WeLab Bank Announces Public Launch of Virtual Banking Services
By Editors | 30/07/2020
WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.
Fintech / Regtech
HKMA Asks Banks to Participate in KPMG Regtech Stocktake
By Editors | 27/07/2020
HKMA has appointed KPMG as an external consultant to conduct surveys and interviews with banks and technology firms on Regtech development in Hong Kong.
Market Infrastructure
HKMA Aligns Benchmark Reform Guidance for Banks with BCBS
By Editors | 26/07/2020
HKMA’s new guidance covers issues with benchmark reform relating to the definition of capital, market risk, counterparty credit risk, liquidity and operational risk.
Market Infrastructure
‘Business As Usual’ for Hong Kong Banks, says HKMA Chief
By Editors | 23/07/2020
Chief executive Eddie Yue said the HKMA does not see that the national security law would affect the normal conduct of business in Hong Kong, provided it is permissible under existing regulations.
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