Hong Kong Monetary Authority

Big Picture

IMF Commends Hong Kong for Robust Financial Regulation and Supervision

By Editors | 28/01/2019

The IMF has assessed that robust financial regulation and supervision should help Hong Kong weather domestic and external shocks despite growing risks to the city’s outlook.

Market Infrastructure

HKEX Enables Central Clearing for Deliverable FX Forwards, Swaps

By Manesh Samtani | 25/01/2019

Enabled by Traiana infrastructure, HKEX OTC Clear is offering the first clearing service for deliverable FX forwards and swaps in the USD/CNH and USD/HKD currency pairs.

Capital / Liquidity

HKMA Asks Banks to Start Working on FRTB Implementation

By Editors | 21/01/2019

The HKMA circular follows last week’s publication of new minimum capital requirements for market risk by the Basel Committee on Banking Supervision.

Market Infrastructure

HKMA Urges Banks to Foster Sound Culture – Speech

By Manesh Samtani | 18/01/2019

In a keynote address this week, HKMA executive director Alan Au discussed the three pillars of bank culture reform, progress at banks, and new initiatives to drive culture reform forward.

Fintech / Regtech

Hong Kong Gets First API Exchange Platform in Open Banking Push

By Manesh Samtani | 17/01/2019

JETCO launches the city’s first Open API exchange; New Accenture survey indicates willingness of Hong Kong consumers to share personal financial information with third parties.

Capital / Liquidity

HKMA Banking Securitisation Code Takes Effect

By Editors | 14/01/2019

The Code provides guidance on the qualifying conditions to use the internal assessment approach for calculating the capital requirement for certain securitisation exposures.

Market Infrastructure

Hong Kong Lawmakers Push for Consumer Data Protections – Report

By Editors | 08/01/2019

Lawmakers are pushing for greater oversight of credit reference agencies following the discovery of security loopholes in TransUnion’s online service for credit reports.

AML / KYC

JPMorgan Hong Kong Fined for Inadequate AML/CTF Controls

By Editors | 30/12/2018

An HKMA investigation found that JPMorgan Hong Kong failed to establish and maintain effective controls for handling wire transfers, conducting CDD and monitoring business relationships.

Market Infrastructure

HKMA to Require Banks to Report on Culture Reform

By Editors | 20/12/2018

First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.