Hong Kong Monetary Authority

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    HKMA, IA Identify Issues With Premium Financing Practices

    By Editors | 27/06/2024

    A joint inspection exercise was conducted to assess compliance with new standards for premium financing that were implemented on 1 January 2023

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    Crypto / Digital Assets

    Hong Kong FIs Keen on DeFi and Metaverse: AoF Reports

    By Sanday Chongo Kabange | 26/06/2024

    HKMA said FIs are interested in exploring opportunities brought by DeFi and metaverse as they expand involvement in virtual assets.

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    Hong Kong Revises Banking Code of Practice for Marketing Calls

    By Sanday Chongo Kabange | 25/06/2024

    The code sets out limits on the frequency of person-to-person marketing and confines the hours of making such calls, among other revisions.

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    AML / KYC

    HKMA Issues Guidance for Banks on Handling ‘Bogus’ Calls

    By Sanday Chongo Kabange | 25/06/2024

    The HKMA has directed banks to review and step up measures to protect consumers from “bogus” telephone calls purporting to be from banks.

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    Capital / Liquidity

    HKMA Consults on Revised Credit Risk Mitigation Guidelines

    By Mark Johnston | 24/06/2024

    The revised SPM module is expanded compared to the 2001 version, aimed at strengthening banks’ management of collateral or guarantees.

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    Market Infrastructure

    Hong Kong to Start Trading During Typhoons from 23 Sep

    By Sanday Chongo Kabange | 19/06/2024

    Special arrangements will be available to smaller and mid-sized brokers. HKMA said banks stand ready to fulfill clearing and settlement obligations.

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    Capital / Liquidity

    HKMA Tweaks Rules to Address Homebuyer Hardship

    By Editors | 18/06/2024

    The adjustments aim to address depressed valuations, simplify borrowing capacity calculations, and reduce rental income haircuts.

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    Capital / Liquidity

    How Asian Regulators Have Been Reflecting on 2023 Bank Failures

    By Blake Evans-Pritchard | 18/06/2024

    Asian regulators have been looking at whether the kinds of bank failures that occurred last year could also take place in their home markets.

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    HKMA Directs Banks to Review Insurance Referral Business

    By Sanday Chongo Kabange | 14/06/2024

    The HKMA asked banks to assess their compliance with prohibitions on the use of unlicensed agents to target Mainland customers.

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    Securities / Derivatives

    HKEX Targets September for Severe Weather Trading Launch

    By Editors | 10/06/2024

    HKEX is working to finalise the severe weather trading model and has set an internal target for implementation in September.

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