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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.
Fintech / Regtech
BOT Concludes Project Inthanon’s Second Phase
By Manesh Samtani | 22/07/2019
Phase 2 used smart contracts to automate bond lifecycle events, and introduced pre-validation to reduce error and fraud in funds transfers. Phase 3 will be a joint effort with the HKMA.
Market Infrastructure
Hong Kong, China Framework Comparison – Conduct and Culture
By Prasanna Venkatesan | 18/07/2019
Synpulse’s Prasanna Venkatesan, Gregory Achache and Marina Mai compare China and Hong Kong’s regulatory frameworks in relation to culture and conduct.
AML / KYC
The Rise of Digital Banks in Asia Raises Compliance Questions
By Claus Christensen | 16/07/2019
The entrance of FinTech and BigTech firms into banking is forcing incumbents to adapt, but it should not come at a cost to compliance obligations, writes Claus Christensen at Know Your Customer Ltd.
Capital / Liquidity
HKMA Asks Banks to Prepare Systems for Revised Leverage Ratio
By Editors | 15/07/2019
Both the revised leverage ratio treatment of client cleared derivatives and the revised disclosure requirements will come into effect in Hong Kong on 1 January 2022, in line with the BCBS timetable.
Big Picture
Open Banking, APIs Will Unlock a Host of Opportunities: NPP Australia
By Editors | 08/07/2019
A new white paper from NPP Australia provides an overview of developments in other real-time payments markets, including opportunities and challenges for the payments sector.
Market Infrastructure
Hong Kong ‘Greenness’ Assessment Framework for Banks by Year-End
By Manesh Samtani | 02/07/2019
The framework will comprise guiding principles and possible metrics for the greenness assessments, drawing from industry feedback and the HKMA’s participation in the NGFS.
Fintech / Regtech
BIS ‘Innovation Hub’ to Set Up in Hong Kong, Singapore
By Editors | 02/07/2019
The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise ‘new economy’ opportunities.
Capital / Liquidity
Amended Bank Liquidity Rules to Take Effect 1 Jan: HKMA
By Manesh Samtani | 01/07/2019
The amendments expand the scope of HQLA recognisable as “level 2B assets” under the LCR and introduce a 5% stable funding requirement on total derivative liabilities under the NSFR.
Securities / Derivatives
Hong Kong Finalises List of FSPs Under Clearing Obligation
By Editors | 01/07/2019
The list of Financial Services Providers identifies major dealers outside Hong Kong that are under the clearing obligation.
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