HONG KONG MONETARY AUTHORITY

Market Infrastructure

HKMA Sets Out Resolution Planning Expectations in New Guidance

By Sanday Chongo Kabange | 17/02/2024

A new chapter has been added to the Code of Practice setting out the measures banks should have in resolution plans.

Fintech / Regtech

Operational Procedures Updated for GBA Fintech Facility

By Sanday Chongo Kabange | 09/02/2024

The HKMA, PBOC and AMCM updated their operational procedures to reflect Macau’s participation in the facility.

AML / KYC

HKMA Directs Banks to Ensure Their CDD is “Risk-based”

By Manesh Samtani | 09/02/2024

Asking customers to provide details or proof of salary, employment or investments dating back years is “not consistent” with the risk-based approach.

Crypto / Digital Assets

HK Breaks New Ground With Digital Green Bond Issuance

By Editors | 08/02/2024

This is the first multi-currency digital bond offering in the world, and the first digitally native bond issuance in Hong Kong.

Capital / Liquidity

HKMA Consults on Capital Treatment of Cryptoasset Exposures

By Manesh Samtani | 07/02/2024

The proposals are based on the Basel standards, applying a 1,250% risk weight to so-called Group 2b cryptoassets.

Crypto / Digital Assets

Hong Kong Planning Regulatory Framework for OTC Crypto Venues

By Manesh Samtani | 03/02/2024

Some OTC venues including physical shops played a role in fraud cases last year, said top Hong Kong official Christopher Hui.

Crypto / Digital Assets

UAE Completes First Cross-border Payment Using CBDC

By Editors | 31/01/2024

The transaction was sent to China through the “mBridge” platform, developed by the BIS Innovation Hub, HKMA, CBUAE, BOT, and PBOC.

Fintech / Regtech

HKMA, BOT to Enhance Cross-border Collaboration

By Sanday Chongo Kabange | 31/01/2024

HKMA and BOT will explore the use of local currencies in cross-border trade and collaboration in financial digitalisation, fintech, and sustainable finance.

Crypto / Digital Assets

Harvest Becomes First Hong Kong Applicant for Spot Bitcoin ETF

By Manesh Samtani | 30/01/2024

Harvest Global Investments has applied to list a spot Bitcoin ETF in Hong Kong, and also plans to participate in HKMA’s stablecoin sandbox.