HONG KONG MONETARY AUTHORITY

HKMA Issues Guidance for Banks on Digital Marketing

By Sanday Chongo Kabange | 21/12/2023

Banks are asked to review their digital marketing activities for general banking products to ensure consumer protections are in place.

Capital / Liquidity

HKMA Addresses Rumours that Banks are Calling in Loans

By Mark Johnston | 21/12/2023

Rumours have emerged that banks are demanding early repayments from borrowers whose collateral values have fallen. The HKMA says this is not the case.

ESG / Sustainability

HKMA, Dubai FSA Collaborate to Accelerate Sustainable Finance

By Ranamita Chakraborty | 20/12/2023

Both regulators are set to host the upcoming Joint Climate Finance Conference next year to explore common opportunities in transition financing.

AML / KYC

HKMA Fines SVF Licensee TNG for AML Compliance Failures

By Sanday Chongo Kabange | 19/12/2023

The HKMA said TNG had no audit trail from MLRO reviews and did not take appropriate steps to assess whether STRs should be filed.

Market Infrastructure

HKMA Proposes Updated Guidance to Address Banking Sector Talent Gaps

By Manesh Samtani | 19/12/2023

The revised guidance includes new expectations on manpower planning and staff training to ensure banks can fill their talent gaps.

Capital / Liquidity

HKMA Sets Expectations on Managing Risk, IRRBB, Liquidity

By Manesh Samtani | 17/12/2023

Banks should establish social media monitoring frameworks, develop plans to respond to negative publicity, and limit how much HTM securities are held as HQLA.

Mainland Officials Meet With HK Bankers to Discuss Challenges

By Mark Johnston | 15/12/2023

Officials met with Hong Kong bankers this week to seek their views on improving the city’s competitiveness.

ESG / Sustainability

HKMA to Launch Physical Risk Assessment Platform for Banks

By Manesh Samtani | 12/12/2023

HKMA’s Arthur Yuen also said the first version of Hong Kong’s green classification framework will be released “very soon”.

Market Infrastructure

RBI in Talks With HK, US on Cross-border CBDC Payments

By Ajoy K Das | 08/12/2023

The RBI has set up a working group to create a roadmap for settling international remittances using CBDCs.