Events listed in Hong Kong
Planned System Enhancement for the Faster Payment System on 14 May 2023
ID 23144
The Hong Kong Monetary Authority (MAS) has published a press statement to announce that the Faster Payment System (FPS) service operated by the Hong Kong Interbank Clearing Limited will be unavailable on Sunday, May 14, 2023, between 1:00 a.m. and 11:00 a.m. The reason for the interruption is maintenance work at the FPS. MAS calls on affected entities and individuals to make alternative payment ...
The People’s Bank of China, Securities and Futures Commission and Hong Kong ...
ID 23138
In view of the upcoming launch of Northbound trading under SWAP Connect, which will provide mutual access between the Hong Kong and Mainland Chinese interest rate swap markets, the Securities and Futures Commission of Hong Kong, SFC, published a statement on May 5, 2023. Therein, **the regulator provides relevant details on the upcoming trading scheme, including information on the eligibility of investors, accommodated instruments, ...
The HKMA hosts its inaugural Data Summit
ID 23113
The Hong Kong Monetary Authority (HKMA) published a press statement to inform of a recent data summit that took place on May 4, 2023 and brought together over 250 representatives from banks, data analytics service providers, and data providers. The key themes discussed during the summit involved the following: – how banking operations can be further streamlined via digitization; – how alternative data can ...
Applicable Jurisdictional Countercyclical Capital Buffer (CCyB) Ratio for Hong Kong ...
ID 23107
The Hong Kong Monetary Authority (HKMA) has issued a circular to announce that it will leave the countercyclical capital buffer (CCyB) for Hong Kong at 1.00%. The decision follows a careful analysis of (global) economic conditions primarily influenced by the continuing geographic and political tensions and globally high interest rates due to high inflation levels. The HKMA also points out that there were signs ...
Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Swap ...
ID 23068
The Hong Kong Monetary Authority, HKMA, has published a circular primarily addressed at foreign exchange (FX) settlement banks in view of the launch of Swap Connect which provides mutual access between the Hong Kong and Mainland Chinese interest rate swap markets. Therein, the HKMA outlines some issues FX settlement banks must consider when providing currency conversion services to investors that use offshore RMB or ...
FAQs – Licensing: Insurance requirements applicable to certain licensed ...
ID 23048
The Securities and Futures Commission of Hong Kong (SFC) has published revised frequently asked questions (FAQs) regarding the license holders insurance scheme. The scheme provides mandatory insurance to license holders type 1 (dealing in securities) and 2 (dealing in futures contracts) which participate in the Stock Exchange of Hong Kong Limited or the Hong Kong Futures Exchange Limited, respectively. The FAQs currently address the ...
HKMA Annual Report 2022 and Sustainability Report 2022
ID 23044
On April 28, 2023, the Hong Kong Monetary Authority, HKMA, issued a press statement to inform that it has released two new reports: 1. the Annual Report 2022 and 2. the so-called Sustainability Report 2022. ##### The first report, the Annual Report 2022,** – outlines the key challenges faced by the Hong Kong financial market in 2022 such as declining economic activity, the (gobal) ...
MPFA welcomes the announcement of the effective date of the abolition of the ...
ID 23043
The Mandatory Provident Fund Schemes Authority, MPFA, has published a press statement to commend on the announcement of an effective date of the Employment and Retirement Schemes Legislation (Offsetting Arrangement) (Amendment) Ordinance 2022. The Ordinance will no longer permit employers to use accrued benefits under the Mandatory Provident Fund scheme resulting from mandatory contributions to offset severance payments (SP) / long service payments (LSP) ...
Circular to Licensed Corporations which are Participants of The Stock Exchange of ...
ID 23041
The Securities and Futures Commission of Hong Kong (SFC) has issued a circular providing information on the arrangements of the license holders insurance scheme applicable for the scheme year from April 1, 2023 to March 31, 2024 (both dates inclusive). The scheme applies to corporations which are licensed under the Securities and Futures Ordinance and which fall into one of the following two categories: ...
Commencement of Companies (Amendment) Ordinance 2023
ID 23006
The Hong Kong government has published a press release to remind of the fact that the new Companies (Amendment) Ordinance 2023 came into force on April 28, 2023, which provides public companies with the flexibility to also hold their general meetings in hybrid or virtual form only. Corresponding changes have been made as regards – the notification of an upcoming meeting (place, date, time, ...