Hong Kong Monetary Authority

Capital / Liquidity

HKMA Allows Lenders to Expand Use of Tech in Retail Lending

By Editors | 30/08/2019

The HKMA is allowing lenders to further develop business involving the use of innovative financial technology to assess and approve personal loan applications.

Capital / Liquidity

HKMA Introduces New Liquidity Facilities for Banks

By Manesh Samtani | 27/08/2019

The updated Liquidity Facilities Framework is part of ongoing work to maintain the integrity and stability of Hong Kong’s monetary and financial systems, said HKMA chief Norman Chan.

AML / KYC

HKMA Issues Clarification on Non-Face-to-Face Onboarding

By Editors | 24/08/2019

In line with SFC requirements, the HKMA says banks need not re-verify a client’s identity when opening an investment account if they’ve already done so for bank account opening.

Capital / Liquidity

HKMA Adjusts Initial Margin Implementation Schedule

By Editors | 19/08/2019

The HKMA has adjusted its implementation schedule for the incoming requirements, taking into account the one-year phased extension announced by BCBS and IOSCO in July.

Enforcement

Hong Kong Banks Under Scrutiny for Chinese Lending – Report

By Manesh Samtani | 16/08/2019

The HKMA has reportedly been investigating several Hong Kong lenders for financing large scale overseas asset purchases by Chinese conglomerates.

Market Infrastructure

HKMA Reports on Open API Implementation Progress

By Editors | 01/08/2019

Phase I Open APIs provide information on banking products and services. Phase II will allow banks to process applications for such products and services by end-October.

Hong Kong Names Eddie Yue as New HKMA Chief

By Manesh Samtani | 26/07/2019

Yue is the “person best suited for this position”, said Hong Kong’s Financial Secretary Paul Chan announcing the appointment on Thursday.

AML / KYC

HKMA Grades SVF Sector as ‘Medium Risk’ in Latest AML/CTF Assessment

By Manesh Samtani | 22/07/2019

While most of the sector presents low risk, higher risk has emerged in SVF products that allow overseas cash withdrawals, cross border remittances, and person-to-person transfers.

Enforcement

HKMA Delegated Powers to Inspect Banks’ Insurance Business

By Editors | 22/07/2019

The Insurance Authority is delegating inspection and investigation powers to the HKMA in relation to insurance related business conducted by authorised institutions.