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HKMA Announces Final Extension for Trade Loan Deferrals
By Manesh Samtani | 16/07/2021
Corporate customers can further extend their trade facilities for another 90 days until the end of October, when the scheme will expire.
ESG / Sustainability
Hong Kong Launches Centre for Green and Sustainable Finance
By Manesh Samtani | 15/07/2021
The Centre will serve as a cross-sector platform to coordinate the transition efforts and serve as a repository for resources, data and analytics.
Market Infrastructure
HKMA Asks Banks to Bolster Corporate Awareness of LIBOR Cessation
By Editors | 13/07/2021
Banks are asked to distribute a leaflet to all corporate customers by 31 July 2021 and to send confirmation to the HKMA after the exercise is complete.
AML / KYC
HKMA Launches Campaign to Raise Awareness of Phishing
By Sanday Chongo Kabange | 08/07/2021
HKMA statistics show that phishing frauds in the first six months of 2021 were up 145% from the first half of 2020.
HKMA Issues SPM on Supervision of Banks’ Insurance Business
By Editors | 01/07/2021
The HKMA’s enforcement standards with respect to insurance intermediary business of banks mirror those adopted by the IA.
Fintech / Regtech
HKMA Sets Out ‘Four Actions’ to Realise Regtech 2025 Vision
By Manesh Samtani | 01/07/2021
At the HKMA’s flagship regtech conference, Eddie Yue outlined the initiatives underway to promote regtech adoption, including to explore a corporate version of iAM Smart.
China, EU to Finalise Climate Taxonomy By Year-End
By Sanday Chongo Kabange | 30/06/2021
A PBOC official reportedly said experts working on the common taxonomy are expected to complete the final version by the end of this year.
ESG / Sustainability
HK to Accelerate Plans for Mandatory Climate Disclosures – Report
By Sanday Chongo Kabange | 28/06/2021
The HKMA’s Darryl Chan reportedly said mandatory climate disclosure requirements could arrive in Hong Kong as early as next year.
Capital / Liquidity
Hong Kong: ‘Stay Rules’ to Come into Operation on 27 August
By Manesh Samtani | 27/06/2021
Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
HKMA, SFC Finalise Latest Changes to FSP List
By Editors | 25/06/2021
A unit of Toronto-Dominion Bank will be included on the FSP list. An entity that has merged with Deutsche Bank will be removed.
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