Hong Kong Monetary Authority

Credit Risk

HKMA, Hong Kong Banks Pledge Leniency for SME Borrowers

By Manesh Samtani | 17/10/2019

Nine major Hong Kong banks have pledged to help SME customers that encounter financial difficulties by adopting accommodative lending policies.

Capital Adequacy

HKMA Cuts CCyB in Response to Worsening Economic Conditions

By Editors | 15/10/2019

The first CCyB cut since 2015, the move is expected to free up between HKD 200-300 billion in the financial system and make it easier for banks to lend to SMEs.

Structural Regulation

UPDATED – SFC to Raise Investor Compensation Limit

By Editors | 09/10/2019

Respondents to an April 2018 consultation strongly supported an increase in the compensation limit, among other proposals, which the SFC expects to implement in early 2020.

Structural Regulation

New HKMA Chief Signals Priorities for Term Ahead

By Manesh Samtani | 04/10/2019

Incoming HKMA chief Eddie Yue vowed to defend Hong Kong’s currency peg, promote market development opportunities, and foster a better ecosystem for fintech, regtech and suptech.

Payments & Settlements

SWIFT, HSBC to Define Common API Standard for Hong Kong

By Editors | 04/10/2019

The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong’s clearing and settlement systems, facilitating the next phases of open banking in the city.

Data Privacy

Hong Kong Making Slow Progress on Open Banking: S&P

By Editors | 03/10/2019

S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.

Structural Regulation

Hong Kong to Regulate Fund Trustees, Custodians

By Editors | 30/09/2019

Fund trustees and custodians in Hong Kong are not subject to any licensing regime or ongoing supervision. The SFC proposes to regulate them under a new type of regulated activity, RA 13.

Conduct, Culture & Accountability

HKMA Updates Rules on Sales of Banking Products

By Manesh Samtani | 27/09/2019

Banks may not sell investment, insurance and MPF products in areas that are used for deposit-taking activities, and the face-to-face sales process must be audio-recorded.

Structural Regulation

Singapore Convention Ushers in New Era for International Mediation

By Amanda Lees | 23/09/2019

The Singapore Convention further legitimises mediation as a viable method of cross-border dispute resolution, say Amanda Lees and Eric Chan at Simmons & Simmons.