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Capital Adequacy
HKMA Confirms Decision to Defer Implementation of Basel III Reforms
By Editors | 28/11/2022
Hong Kong’s implementation of the Basel III final reform package is being deferred to allow the industry more time to prepare.
Sustainable Finance
HKMA Report Calls Out Greenwashing by Green Bond Issuers
By Mark Johnston | 28/11/2022
The report shows that so-called greenwashing firms are to some extent being penalised by the market with higher re-issuance costs.
Anti-Money Laundering
HKMA, Cyberport Host Third AML Regtech Lab
By Sanday Chongo Kabange | 25/11/2022
The HKMA says retail banks increased their identification and reporting of suspicious accounts and networks by 127 percent compared to a year ago.
Payments & Settlements
ZA Bank, Wise Partner to Offer International Remittances
By Manesh Samtani | 24/11/2022
ZA Bank will offer a “hassle-free service to users, without worrying about any foreign exchange markup, hidden charges and transfer progress.”
Operational Risk
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 Adequacy
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.
Payments & Settlements
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.
Payments & Settlements
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.
Structural Regulation
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.
Cryptocurrency
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.
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