The HKMA has given banks one year to develop their operational resilience framework, and a further three years for implementation.
June 1, 2022Revisions to guidance on operational risk management and BCP have also been proposed to align with the operational resilience guidance.
December 23, 2021The HKMA says continued enforcement of the requirement to observe market norms in the setting of maximum LTV ratios is no longer appropriate.
October 25, 2021The HKMA plans to revise its SPM module on Operational Risk Management to incorporate elements of the revised PSMOR issued by the BCBS.
April 23, 2021Codes of Conduct should include provisions to address conflicts of interest, promote a culture of accountability and encourage staff to report unethical practices.
February 15, 2021