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Anti-Money Laundering
HKMA Advances Work on AML SupTech, Bank-to-Bank Data Sharing
By Darien Choong | 13/07/2022
HKMA executive director Carmen Chu discussed initiatives to enable bank-to-bank information sharing and use granular bank data to detect ML risk.
Capital Adequacy
HKMA Issues Revised Capital Adequacy Ratio Return
By Editors | 12/07/2022
The changes are mainly to cater for banks’ reporting of equity investments in funds in accordance with the requirements that came into effect on 1 July.
Anti-Money Laundering
Hong Kong Publishes ML/TF Risk Assessment Report
By Manesh Samtani | 12/07/2022
The most prominent ML threats to banks come from fraud, corruption and tax crimes. The main ML threats to the crypto sector relate to fraud and theft.
Conduct, Culture & Accountability
HKMA Issues Bank Guidance on Selling Protection Linked Plans
By Editors | 12/07/2022
Banks should discuss their plans for selling PLP with the HKMA and the details of pre-implementation reviews conducted by an independent party.
Climate Risk
ECB Climate Stress Test Finds Bank Practices Lacking
By Editors | 11/07/2022
60% of banks don’t have a climate risk stress testing framework. Only 20% of banks consider climate risk when granting loans.
Credit Risk
HK Banks Must ‘Fully’ Participate in New Credit Reference Platform
By Manesh Samtani | 11/07/2022
The new platform, expected to be launched by year-end, will serve as an interface for lenders and CRAs to share consumer credit information.
Capital Adequacy
HKMA Consults on Implementation of Basel III Reforms
By Editors | 08/07/2022
The proposed amendments relate to the implementation of Basel III final reform package, specifically in relation to credit risk and the output floor.
Conduct, Culture & Accountability
HKMA Joins International Financial Consumer Protection Organisation
By Editors | 07/07/2022
FinCoNet’s membership includes more than 30 regulators responsible for financial consumer protection around the world.
Clearing & Post-Trade
Hong Kong, China to Launch ‘Swap Connect’ in Six Months
By Sanday Chongo Kabange | 05/07/2022
Swap Connect will initially enable Hong Kong and international investors to trade in Mainland interest rate swaps, and potentially other derivatives in futures.
Credit Risk
HKMA Explores Use of Deep Learning for Credit Risk Assessment
By Editors | 04/07/2022
A trained model was able to consistently detect corporate credit deterioration at both the transaction level and aggregate level with a three-month lead time.
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