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Capital / Liquidity
HKMA Cuts CCyB in Response to Worsening Economic Conditions
By Editors | 15/10/2019
The first CCyB cut since 2015, the move is expected to free up between HKD 200-300 billion in the financial system and make it easier for banks to lend to SMEs.
Securities / Derivatives
UPDATED – SFC to Raise Investor Compensation Limit
By Editors | 09/10/2019
Respondents to an April 2018 consultation strongly supported an increase in the compensation limit, among other proposals, which the SFC expects to implement in early 2020.
New HKMA Chief Signals Priorities for Term Ahead
By Manesh Samtani | 04/10/2019
Incoming HKMA chief Eddie Yue vowed to defend Hong Kong’s currency peg, promote market development opportunities, and foster a better ecosystem for fintech, regtech and suptech.
Fintech / Regtech
SWIFT, HSBC to Define Common API Standard for Hong Kong
By Editors | 04/10/2019
The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong’s clearing and settlement systems, facilitating the next phases of open banking in the city.
Big Picture
Hong Kong Making Slow Progress on Open Banking: S&P
By Editors | 03/10/2019
S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.
Securities / Derivatives
Hong Kong to Regulate Fund Trustees, Custodians
By Editors | 30/09/2019
Fund trustees and custodians in Hong Kong are not subject to any licensing regime or ongoing supervision. The SFC proposes to regulate them under a new type of regulated activity, RA 13.
Securities / Derivatives
HKMA Updates Rules on Sales of Banking Products
By Manesh Samtani | 27/09/2019
Banks may not sell investment, insurance and MPF products in areas that are used for deposit-taking activities, and the face-to-face sales process must be audio-recorded.
Market Infrastructure
Singapore Convention Ushers in New Era for International Mediation
By Amanda Lees | 23/09/2019
The Singapore Convention further legitimises mediation as a viable method of cross-border dispute resolution, say Amanda Lees and Eric Chan at Simmons & Simmons.
Fintech / Regtech
HKMA Signs Operational Agreement for BIS Innovation Hub
By Editors | 18/09/2019
The Hub will foster collaboration between central banks and scale up the application of innovative technologies globally, says the HKMA’s Norman Chan.
Market Infrastructure
Hong Kong Virtual Banks Likely to Delay Launch – Report
By Editors | 18/09/2019
Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.
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