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Structural Regulation
HKMA Sets Out Key LIBOR Transition Milestones for Banks
By Manesh Samtani | 12/07/2020
Fall-back provisions should be in place by January 2021, and authorised institutions should cease to issue new LIBOR-linked products maturing after 2021 by 30 June 2021.
Clearing & Post-Trade
HKEX Clears First HONIA-based Interest Rate Swaps
By Manesh Samtani | 09/07/2020
The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.
Climate Risk
HKMA Offers Guidance for Banks on Climate Risk Practices
By Manesh Samtani | 08/07/2020
The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.
Trading & Investment
PBOC Announces Planned Enhancements to Bond Connect
By Editors | 06/07/2020
The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.
Structural Regulation
Hong Kong Offers Wage Subsidy to Local Fintechs
By Editors | 02/07/2020
Fintech companies registered in Hong Kong can apply for a salary subsidy to fill a new full-time position for a maximum of 12 months.
Climate Risk
HKMA Sets Out Principles for Supervisory Approach on Climate
By Manesh Samtani | 01/07/2020
The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.
Conduct, Culture & Accountability
The New Normal: Conduct Risk & Personal Accountability
By Stephen Scott | 01/07/2020
Increasingly, leaders along all Three Lines of Defence are being held personally accountable for misconduct that takes place on their watch, says Stephen Scott at Starling.
Trading & Investment
China Sets Stage for GBA Wealth Management Connect Scheme
By Editors | 29/06/2020
Under a pilot scheme, Greater Bay Area residents will be able to invest in wealth management products distributed by GBA banks across boundaries.
Structural Regulation
Ping An OneConnect Bank to Pilot Virtual Banking Services
By Editors | 26/06/2020
Ping An OneConnect Bank is inviting 200 SMEs and 2,000 retail customers to pilot test its virtual banking services in the HKMA’s sandbox.
Clearing & Post-Trade
HKMA, SFC Publish Final List of FSPs Under Clearing Obligation
By Editors | 25/06/2020
The HKMA and SFC will remove one entity that no longer conducts OTC derivatives business as its institutional services are now being provided by BofA Securities Inc, a new FSP.
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