HONG KONG MONETARY AUTHORITY

Fintech / Regtech

HKMA Revises Guidance on Accessing CCRA Database via CDI

By Editors | 17/11/2022

Banks can access commercial credit reference agencies via the CDI to automate credit approval processes, reduce manual handling, and enhance operational efficiency.

Capital / Liquidity

HKMA Proposes Changes to Approach for Setting CCyB

By Editors | 14/11/2022

The HKMA proposes to maintain a Positive Neutral CCyB of 1 percent even when its primary indicators maybe signal a lower applicable CCyB.

HK Banks Offer ‘PAPT’ Option for Mortgage Refinance Transactions

By Editors | 08/11/2022

The PAPT is being introduced to address risks that could arise for residential mortgage customers if a law firm handling a transaction is suspended.

Market Infrastructure

Hong Kong, Macau Enable Real-time Payments Between Banks

By Editors | 03/11/2022

Macau already has a local RTGS system for local payments denominated in HKD. The new system enables real-time settlement of HKD payments between Macau and Hong Kong banks.

Market Infrastructure

Hong Kong to Subject Foreign Investment Gains to Profits Tax

By Manesh Samtani | 02/11/2022

A new LegCo bill will require MNE entities in Hong Kong to pay profits tax on foreign equity disposals and dividend income, unless they are specifically exempted.

Crypto / Digital Assets

SFC Considers Allowing Retail Access to Crypto, Starting with ETFs

By Manesh Samtani | 01/11/2022

ETFs with crypto exposure through CME-listed BTC and ETH futures can be distributed to Hong Kong retail clients. The “professional investor only” requirement is under review.

Fintech / Regtech

Hong Kong FSTB Issues Policy Statement on Approach to Virtual Assets

By Manesh Samtani | 31/10/2022

The SFC will be consulting on how retail investors may be given a “suitable degree of access” to virtual assets under Hong Kong’s new licensing regime.

Hong Kong to Tighten Lending Rate Caps from 30 December

By Editors | 29/10/2022

Banks should start notifying customers of the new interest rate limits as soon as practicable and not later than 14 November.

HKMA Streamlines Requirements on Use of Tech in Lending

By Editors | 28/10/2022

The streamlined requirements will help lenders accelerate the adoption of advanced data analytics in credit underwriting.