HONG KONG MONETARY AUTHORITY

Capital / Liquidity

HKMA Relaxes Limits on Property Mortgage Loans

By Editors | 09/07/2023

This is the first time the HKMA has relaxed the countercyclical macroprudential measures for residential properties since they were implemented in 2009.

Market Infrastructure

Bond Connect Will be Further Enhanced, Says HKMA Chief

By Manesh Samtani | 05/07/2023

HKMA chief Eddie Yue discussed plans to open foreign access to the onshore treasury bond futures market and allow repo trades via Bond Connect.

ESG / Sustainability

Systemic, Firm, and Human Capital Implications of Climate Transition

By Siva Ramachandran | 04/07/2023

Siva Ramachandran and Phoebe Chan discuss the key implications of the global transition journey at the systemic, firm, and human capital levels.

Crypto / Digital Assets

Hong Kong Establishes Task Force to Advance Web3 Development

By Sanday Chongo Kabange | 03/07/2023

The task force will bring together industry leaders and regulators to provide advice on developing Hong Kong into a Web3 hub.

AML / KYC

HKMA Launches New Initiative to Prevent Credit Card Fraud

By Editors | 30/06/2023

All of Hong Kong’s card issuing banks, as well as 15 major merchants, commit not sending customers text messages with embedded hyperlinks.

Capital / Liquidity

HKMA Proposes to Restructure Three-Tier Banking System

By Manesh Samtani | 27/06/2023

Hong Kong’s 12 remaining deposit-taking companies would need to upgrade into licensed banks or restricted licence banks and meet higher capital requirements.

Market Infrastructure

HKMA Directs Banks to Enhance Protections for Payment Card Customers

By Sanday Chongo Kabange | 21/06/2023

Banks are directed to comply with new guidance by end June 2023. For enhancements that require system changes, banks should comply within six months.

Fintech / Regtech

SFC Grants Securities Licence to Virtual Bank for the First Time

By Editors | 21/06/2023

With the new licence, Mox Bank will start piloting Hong Kong and US equity trading services in the HKMA sandbox “soon”.

AML / KYC

Hong Kong Launches AML Information Sharing Platform for Banks

By Manesh Samtani | 21/06/2023

The five banks participating in the pilot phase are BOCHK, Standard Chartered, HSBC, Hang Seng Bank, and ICBC Asia.