HONG KONG MONETARY AUTHORITY

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.

Market Infrastructure

ASIFMA Publishes IBOR Transition Guide for Asia

By Editors | 14/07/2020

The guide provides an overview of issues for FIs to consider in their LIBOR transition programmes and an implementation checklist.

Market Infrastructure

HKMA Proposes New Code of Practice for Banks’ Trust Companies

By Manesh Samtani | 13/07/2020

The HKMA is looking to address a lack of conduct requirements for trust businesses used by banks and their subsidiaries for wealth management purposes.

Market Infrastructure

HKMA Sets Out Key LIBOR Transition Milestones for Banks

By Manesh Samtani | 12/07/2020

Fall-back provisions should be in place by January 2021, and authorised institutions should cease to issue new LIBOR-linked products maturing after 2021 by 30 June 2021.

Market Infrastructure

HKEX Clears First HONIA-based Interest Rate Swaps

By Manesh Samtani | 09/07/2020

The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.

ESG / Sustainability

HKMA Offers Guidance for Banks on Climate Risk Practices

By Manesh Samtani | 08/07/2020

The HKMA has published its observations on the approaches used by major banks to manage climate risk, as guidance for the banking sector as a whole.

Securities / Derivatives

PBOC Announces Planned Enhancements to Bond Connect

By Editors | 06/07/2020

The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.

Fintech / Regtech

Hong Kong Offers Wage Subsidy to Local Fintechs

By Editors | 02/07/2020

Fintech companies registered in Hong Kong can apply for a salary subsidy to fill a new full-time position for a maximum of 12 months.

ESG / Sustainability

HKMA Sets Out Principles for Supervisory Approach on Climate

By Manesh Samtani | 01/07/2020

The HKMA expects the results of the industry greenness self-assessments in August 2020, which will inform its supervisory expectations ahead of a consultation next year.