Hong Kong

Market Infrastructure

HKMA Urges Continued Efforts to Advance Bank Culture Reform

By Manesh Samtani | 24/11/2020

In a recent keynote address, the HKMA’s Alan Au discussed seven common themes that were identified from banks’ self-assessments of culture reforms.

Capital / Liquidity

HKMA Updates Rules for Banks’ Equity Investments in Funds

By Editors | 22/11/2020

The HKMA consulted on local implementation of the standard in January 2019. The new consultation contains amendments reflecting industry feedback.

Market Infrastructure

HKMA Expands List of Eligible Collateral for RMB Facility

By Editors | 21/11/2020

Eligible collateral will include RMB, USD and EUR debt securities issued offshore by China’s central bank, Ministry of Finance or policy banks.

Capital / Liquidity

HKMA Consults on Local Implementation of Final Basel III Reforms

By Editors | 19/11/2020

The consultation is open until 6 January 2021, ahead of industry engagement in 2021, legislative amendments in 2022, and a 1 January 2023 target implementation date.

Market Infrastructure

OTC Clear to Launch RTGS Settlement Service for Members

By Manesh Samtani | 18/11/2020

From 30 November 2020, the new service will relieve clearing members from having to create payment instructions to settle amounts due to OTC Clear each day.

Market Infrastructure

HKMA Finalises New Reporting Form for Consolidated Accounts

By Editors | 17/11/2020

The new Return of Consolidated Accounts will help the HKMA monitor banking sector developments and strengthen the consolidated supervision of locally incorporated banks.

Fintech / Regtech

SFC Signs Fintech Cooperation Agreement with Israeli Regulator

By Editors | 17/11/2020

The agreement establishes a framework for information sharing, potential joint innovation projects and referrals of innovative firms seeking to enter one another’s markets.

Securities / Derivatives

SFC Plans to Issue Code of Conduct for Investment Banks – Report

By Editors | 16/11/2020

The SFC is reportedly seeking to frame a detailed code of conduct for capital raisings that will cover how investment banks calculate their fees.

Market Infrastructure

HKEX Proposes Revamp of Hong Kong IPO Settlement Process

By Manesh Samtani | 16/11/2020

Subject to market support and readiness, HKEX intends to launch a new platform called FINI in 2022 that will cut the IPO settlement process from T+5 to T+1.