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AML / KYC
HK, China Working to Simplify Cross-border Account Opening
By Editors | 15/03/2021
Regulators are reportedly working to simplify cross-border bank account opening processes to facilitate the launch of Wealth Management Connect.
Fintech / Regtech
BOT Unveils Results of ‘CBDC for Business’ Project
By Ranamita Chakraborty | 11/03/2021
The BOT found that DLT increases efficiency for B2B payments, despite limitations in supporting large transaction volumes and preserving transaction privacy.
Market Infrastructure
HKMA Issues Guidance for Bond Connect FX Settlement Banks
By Editors | 09/03/2021
Hong Kong FX Settlement Banks should ensure that FX conversion and hedging transactions arise from “genuine and reasonable” Bond Connect investment needs.
Capital / Liquidity
HKMA Extends Principal Payment Holiday Scheme Again
By Manesh Samtani | 05/03/2021
Principal payments of all loans of eligible corporate borrowers falling due between 1 May and 31 October 2021 should be deferred by a further six months.
Market Infrastructure
New Initiatives Announced to Promote Hong Kong Capital Market
By Manesh Samtani | 25/02/2021
Paul Chan spoke of measures to boost green bond issuance, launch southbound Bond Connect, expand Stock Connect, and subsidise REITs, fund managers and family offices coming to Hong Kong.
Hong Kong to Enhance Special 100% Loan Guarantee Scheme
By Editors | 25/02/2021
The maximum loan amount per enterprise, total loan ceiling, maximum repayment period, and duration of moratorium will be extended.
Fintech / Regtech
China, UAE Join HKMA-BOT Initiative to Create CBDC Bridge
By Manesh Samtani | 23/02/2021
The project, now called ‘m-CBDC Bridge’, will seek the development of a prototype to facilitate real-time cross-border transactions using multiple CBDCs.
Market Infrastructure
HKMA Raises Expectations for Bank Codes of Conduct
By Manesh Samtani | 14/02/2021
Codes of Conduct should include provisions to address conflicts of interest, promote a culture of accountability and encourage staff to report unethical practices.
Fintech / Regtech
HSBC, HKTVmall Join Forces to Enhance Access to Trade Finance
By Manesh Samtani | 11/02/2021
HSBC will leverage commercial data from HKTVmall to analyse and forecast business performance during credit assessment, making loan approval faster and simpler.
AML / KYC
HK Banks Told to Stop Accepting BNO Passports as Valid ID
By Editors | 09/02/2021
The HKAB updated its guidance for banks after the government said it would no longer recognise BN(O) passports as valid travel documents or forms of identity.
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