HONG KONG MONETARY AUTHORITY

Capital / Liquidity

HKMA Proposes BELR, BCR Changes to Implement Basel III

By Editors | 20/03/2023

Proposed changes to the banking exposure limits rules and the banking capital rules are open for comment until 21 April.

Crypto / Digital Assets

Digital Asset Developments in South Korea: Balancing Innovation and Risk

By Rahul Advani | 15/03/2023

South Korea’s thoughtful approach to regulating digital assets will foster growth and innovation and result in a more vibrant and inclusive digital economy, say Rahul Advani and Angela Ang.

Capital / Liquidity

HSBC Acquires Silicon Valley Bank’s UK Unit for £1

By Editors | 14/03/2023

HSBC expects the deal to be profitable, strengthen its commercial banking franchise, and enhance its ability to serve innovative firms.

Market Infrastructure

HK to Amend Clearing Rules to Account for IBOR Reforms

By Editors | 13/03/2023

Mandatory clearing will be required for certain OTC transactions referencing ARRs rather than for those referencing IBORs that are being discontinued.

AML / KYC

HKMA Issues New AML/CFT Guidance for Private Banks

By Manesh Samtani | 08/03/2023

Guidance is offered to reduce the burden on legitimate private banking customers trying to use banking services in Hong Kong.

Hong Kong Appoints Ex-Regulators to HKEX Board

By Editors | 02/03/2023

Former HKMA chief Joseph Yam and ex-SFC chairman Carlson Tong have been appointed as board directors for HKEX.

HKMA Offers Guidance on Streamlining Investment Sales Process

By Editors | 28/02/2023

The HKMA said “misunderstandings” on the regulatory standards that may have may have lengthened investment product selling processes.

Crypto / Digital Assets

Hong Kong Issues First-of-its-kind Tokenised Green Bond

By Editors | 17/02/2023

Financial Secretary Paul Chan said the issuance demonstrates Hong Kong’s strengths in combining bond market, green and sustainable finance, and fintech.

AML / KYC

Banks Should Use CDI to Streamline KYC, Credit Processes: HKMA

By Editors | 16/02/2023

Banks with material SME business are expected to complete their technical connection to the CDI and CCRA@CDI before the end of this year.