Hong Kong Monetary Authority

CBDCs

HKMA to Explore Common Industry Standards for Digital Money

By Manesh Samtani | 02/04/2024

Phase 2 of HKMA’s e-HKD testing initiative will explore the development of standards on interoperability and smart contract design.

Cloud & Infrastructure

HKMA to Soon Issue Guidelines for Banks on DLT Adoption

By Manesh Samtani | 02/04/2024

HKMA’s Raymond Chan said the new guidelines will not be binding nor exhaustive, but they will provide a “helpful benchmark” for banks looking to plan and develop DLT solutions.

Credit Risk

HKMA Announces Nine New Measures to Support SMEs

By Sanday Chongo Kabange | 02/04/2024

The measures will enhance the financing support for SMEs and make it easier for them to compare, select offerings from, and switch to different banks.

Clearing & Post-Trade

HKMA, SFC Call on Firms to Ensure Readiness for US Move to T+1

By Editors | 28/03/2024

Firms should consider deploying additional staff and or making adjustments to work shifts or working hours to cope.

ESG Data

HKMA Urges Banks to Utilise GHG Reporting Tools

By Sanday Chongo Kabange | 27/03/2024

The HKMA called on banks to make use of the two new GHG reporting tools launched by the Cross-Agency Steering Group last month.

Structural Regulation

HKMA, SFC Planning Sept 2025 Rollout of New Derivatives Reporting Regime

By Manesh Samtani | 25/03/2024

HKMA and SFC propose to adopt a ‘big bang’ approach to implementation, rolling out the UTI, UPI, CDE and ISO 20022 requirements on 29 September 2025.

Anti-Money Laundering

Achieving Effectiveness in AML is a Shared Mission: HKMA’s Carmen Chu

By Bradley Maclean | 25/03/2024

Ms Carmen Chu discusses Hong Kong’s threat landscape, HKMA’s efforts to improve industry effectiveness, and key messages for FIs on collaboration and the use of technology.

CBDCs

New Mediums of Exchange Will Add to HK’s GDP: Report

By Manesh Samtani | 25/03/2024

BCG, DLA Piper, HKT Payment Limited, paywith.glass, VSFG and ZA Bank say CBDC, tokenised deposits and stablecoins will add HK$160bn to Hong Kong’s GDP by 2032.

Structural Regulation

Hong Kong to Raise Bank Licence Fees Nearly 30%

By Manesh Samtani | 22/03/2024

An HKMA review concluded that the proposed increase in fees should be “manageable” for affected financial institutions.