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Conduct, Culture & Accountability
HKMA Publishes Findings from Front Office Incentives Review
By Editors | 26/05/2022
Some incentive systems used in retail banks’ front offices may unintentionally push staff to prioritise business objectives over customer outcomes.
AI Risk & Governance
Govt Support Needed in AI, Big Data Industry: FTAHK
By Editors | 25/05/2022
Survey respondents said government support is needed to drive education and promote fairness, ethics, accountability and transparency in the industry.
Operational Risk
HKMA’s Operational Resilience Standards: An ‘Adapt and Learn’ Approach
By Lisa Huang | 19/05/2022
Lisa Huang and Shannon Wong offer guidance on making a timely start to compliance with HKMA’s new operational resilience framework.
Liquidity Risk
Capital Outflows Prompt HKMA Intervention to Defend Currency Peg
By Editors | 12/05/2022
The last time the HKMA intervened to defend a weakening HKD was in March 2019. The move is expected to raise borrowing costs.
Conduct, Culture & Accountability
HKMA Sets Timeline for Mandatory Reference Checking Regime
By Sanday Chongo Kabange | 08/05/2022
Banks have until 2 May 2023 to put in place the necessary internal controls, policies and procedures required for Phase 1 implementation of the MRC regime.
Credit Risk
Hong Kong Banks Barred from Suing Defaulting Landlords
By Manesh Samtani | 05/05/2022
For 3 months, lenders may not take action against landlords who default on secured loans as a result of a rental enforcement moratorium being imposed in Hong Kong.
AI Risk & Governance
HKMA Issues Regtech Guide on Adopting AI-based Solutions
By Editors | 02/05/2022
The guide highlights the need for banks to establish proper data and AI governance frameworks, and maintain continuous control over AI-based solutions post-implementation.
Cryptocurrency
SFC Grants In-principle Approval to HashKey Crypto Platform
By Manesh Samtani | 30/04/2022
HashKey’s platform will offer trading, brokerage and automated trading services for cryptocurrencies, virtual commodities, stablecoins and security tokens.
Sustainable Finance
HKMA Launches New Initiative to Address Banking Talent Gap
By Editors | 29/04/2022
The initiative is aimed at growing the banking sector talent pool in three areas, namely fintech, green and sustainable finance, and GBA business.
CBDCs
HKMA Consults on CBDC Policy and Design Choices
By Sanday Chongo Kabange | 28/04/2022
The paper says e-HKD could bring could present challenges to Hong Kong’s currency and financial stability, as well as the city’s role as an international financial centre.
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