ADVERTISEMENT
Conduct, Culture & Accountability
HKMA Asks FIs to Protect Customer Interests in LIBOR Switch
By Manesh Samtani | 21/10/2020
Banks are expected to develop robust education and outreach programmes to help customers make informed decisions when assessing the options available in the transition.
Anti-Money Laundering
Hong Kong Banks Asked to File STRs for Suspected NSL Breaches
By Manesh Samtani | 20/10/2020
According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.
Trading & Investment
HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol
By Editors | 18/10/2020
The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.
Structural Regulation
GBA Regulators Advance Policy Work on Cross-border Mortgages
By Manesh Samtani | 11/10/2020
The HKMA’ Edmond Lau says encouraging progress has been made to allow Hong Kong banks to provide cross-border mortgage services in the Greater Bay Area.
Trading & Investment
Tradition Executes First HONIA-SOFR Cross Currency Basis Swap
By Manesh Samtani | 08/10/2020
The trade provides a foundation for the structure of cross-currency swaps that use SOFR and the local ARR, in this case HONIA.
Structural Regulation
Fusion Bank Kicks Off Virtual Banking Soft Launch
By Manesh Samtani | 05/10/2020
Under the HKMA’s sandbox, Fusion Bank will provide savings and time deposits, local fund transfers, payments, and become the first virtual bank to offer FX services.
Liquidity Risk
HKMC Gets Expanded Credit Facility Amid First Half Loss
By Editors | 05/10/2020
HKMC recorded a new loss of HK$197mn for the first half of 2020. A revolving credit facility provided to HKMC through the Exchange Fund will increase from HK$30bn to HK$80bn.
Conduct, Culture & Accountability
HKMA Directs Banks to Review, Enhance Sales Practices
By Manesh Samtani | 02/10/2020
A mystery shopping programme has identified product disclosure, risk profiling, and suitability assessment as some of the key areas where improvement is needed.
Climate Risk
HKMA Pushes Forward Green & Sustainable Banking Initiatives
By Manesh Samtani | 01/10/2020
A pilot climate stress testing exercise involving Hong Kong banks will commence early next year. A local green taxonomy is under development.
Structural Regulation
Two More Virtual Banks Launch in Hong Kong
By Manesh Samtani | 01/10/2020
Ant Bank and Ping An OneConnect Bank launched virtual banks in Hong Kong. Fusion Bank is the only virtual bank that has not yet commenced operations.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.