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Market Infrastructure
HK, Japan to Connect Settlement Systems
By JP Reimann | 19/04/2018
BOJ-NET link with HKD CHATS will effectively eliminate the need for the US dollar as an intermediate currency in cross-border transactions.
AML / KYC
HK Banks Introducing Biometrics Expected to Comply With IT Upgrade Guidelines
By JP Reimann | 17/04/2018
Secretary for Financial Services and the Treasury expects banks to comply with requirements of HKMA personal data privacy ordinance.
Fintech / Regtech
Hong Kong’s Fintech Sandbox Risks Alienating Innovators
By Manesh Samtani | 28/02/2018
HKMA financial technology sandbox needs to evolve to maximise value for all concerned, a new study suggests.
Enforcement
RBI Under Fire for Failure to Detect $1.8bn Loan Fraud
By Manesh Samtani | 21/02/2018
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
AML / KYC
Border Cash Declarations Won’t Halt HK Money Laundering
By Peter Guy | 19/02/2018
For the first time, visitors to Hong Kong will soon have to declare cash they bring in. But money laundering will continue to flourish.
Fintech / Regtech
HKMA Virtual Bank Rules – Dull, Timid Bureaucracy
By Peter Guy | 12/02/2018
Proposed virtual banks rules fail to address the true future of financial services, risking Hong Kong’s descent into irrelevancy.
Capital / Liquidity
HK Gives Banking Disruptors a Chance, for $38mn
By Samuel Riding | 07/02/2018
Deputy chief of Monetary Authority also says banks cannot use ‘predatory tactics’ when competing for market share.
Capital / Liquidity
Hong Kong Amends Banking Rules on Recovery Planning, Large Exposure Limits
By Garima Chitkara | 06/02/2018
New rules will bring Hong Kong bank regulatory regime in line with international standards.
Capital / Liquidity
HK Hikes Capital Buffer Due to High Credit-GDP, Property-Rent Gaps
By Samuel Riding | 15/01/2018
Central bank chief expresses concern about growing gaps between credit and GDP, property prices and rents.
AML / KYC
HKMA Proposes Open APIs for Financial Services
By Editors | 15/01/2018
Consultation suggests it could take just six months for banks to develop APIs including their product and service information.
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