HONG KONG MONETARY AUTHORITY

Capital / Liquidity

HKMA Consults on Amendments to D-SIB Framework

By Editors | 30/10/2020

The amendments are aimed at improving the assessment of banks’ complexity in the D-SIB identification process, and reducing the weight of the size factor, among other changes.

Fintech / Regtech

HKMA Chief Hints at New Data Platform to Facilitate SME Lending

By Manesh Samtani | 27/10/2020

Banks can more precisely and objectively assess SME credit risk with access to more data, such as trading and turnover statistics, says HKMA chief Eddie Yue.

Fintech / Regtech

BIS, Swiss National Bank to Issue CBDC Proof of Concept by Year-End

By Sanday Chongo Kabange | 27/10/2020

CBDC research provides an “essential opportunity” to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.

HKMA Issues Guidance on Bank Sales of Policy Replacement

By Manesh Samtani | 22/10/2020

Banks engaged in insurance sales are expected to identify policy replacement at the point of sale and provide advice to customers on whether policy replacement is in their best interests.

Market Infrastructure

GBA Wealth Management Connect to Operate With Quota System

By Manesh Samtani | 22/10/2020

The scheme will be capped at 150 bn yuan in each direction, and an individual quota of 1 mn yuan will be imposed on Greater Bay Area residents.

Market Infrastructure

HKMA Asks FIs to Protect Customer Interests in LIBOR Switch

By Manesh Samtani | 21/10/2020

Banks are expected to develop robust education and outreach programmes to help customers make informed decisions when assessing the options available in the transition.

AML / KYC

Hong Kong Banks Asked to File STRs for Suspected NSL Breaches

By Manesh Samtani | 20/10/2020

According to updated HKMA guidance, suspected breaches of the national security law should be treated the same as AML/CFT violations and be reported to the JFIU as STRs.

Market Infrastructure

HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol

By Editors | 18/10/2020

The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.

Market Infrastructure

GBA Regulators Advance Policy Work on Cross-border Mortgages

By Manesh Samtani | 11/10/2020

The HKMA’ Edmond Lau says encouraging progress has been made to allow Hong Kong banks to provide cross-border mortgage services in the Greater Bay Area.