HONG KONG MONETARY AUTHORITY

AML / KYC

HKMA Issues AML Guidance to Banks As Pandemic Persists

By Manesh Samtani | 30/07/2020

The guidance sets out key practices banks have been using to manage customer due diligence, resource pressure, and emerging threats in the context of Covid-19.

Big Picture

Third Global Financial Crisis May Be Imminent: ex-HKMA Chief

By Sanday Chongo Kabange | 30/07/2020

Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.

Fintech / Regtech

WeLab Bank Announces Public Launch of Virtual Banking Services

By Editors | 30/07/2020

WeLab Bank was the only stand-alone company to win a virtual bank licence from the HKMA. It commenced pilot services in April.

Fintech / Regtech

HKMA Asks Banks to Participate in KPMG Regtech Stocktake

By Editors | 27/07/2020

HKMA has appointed KPMG as an external consultant to conduct surveys and interviews with banks and technology firms on Regtech development in Hong Kong.

Market Infrastructure

HKMA Aligns Benchmark Reform Guidance for Banks with BCBS

By Editors | 26/07/2020

HKMA’s new guidance covers issues with benchmark reform relating to the definition of capital, market risk, counterparty credit risk, liquidity and operational risk.

Market Infrastructure

‘Business As Usual’ for Hong Kong Banks, says HKMA Chief

By Editors | 23/07/2020

Chief executive Eddie Yue said the HKMA does not see that the national security law would affect the normal conduct of business in Hong Kong, provided it is permissible under existing regulations.

Fintech / Regtech

BOT Enters Third Phase of CBDC Development

By Editors | 19/07/2020

The BOT is planning to expand CBDC use among large businesses and, in September, to transactions with the HKMA.

AML / KYC

APAC Regulators Driving Digital Transformation

By Rachel Woolley | 16/07/2020

The pandemic has made it abundantly clear that digital transformation is no longer optional, says Fenergo’s Rachel Woolley.

AML / KYC

Sustainable Supply Chains and the Role Banks Play

By Editors | 14/07/2020

Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.