Hong Kong Monetary Authority

Payments & Settlements

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.

Cybersecurity

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.

Cloud & Infrastructure

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.

Fraud, Scams & Cybercrime

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.

Anti-Money Laundering

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.

Structural Regulation

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.

Structural Regulation

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.

Resolution & Recovery

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 Adequacy

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.