The HKMA may issue directions to banks or their holding companies if it believes non-compliance with the Stay Rules (including by a related company) may impede orderly resolution.
December 31, 2021IBA has now launched RFR indexes for SOFR, SONIA, €STR and TONA, providing daily values that represent accrued compound interest.
September 24, 2021The ATO has set out in a discussion paper the most common tax consequences that may arise from the transition from LIBOR to RFRs.
August 20, 2021Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
June 28, 2021Implementation will occur in two phases, the first for contracts where the only counterparties are HKMA-authorised institutions and/or FIs that are part of G-SIBs.
January 4, 2021FIs will have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during bank resolution.
January 23, 2020