Events listed in [HKMA] Hong Kong Monetary Authority
Consultation on legislative proposal to implement regulatory regime for stablecoin ...
ID 26568
With the growing market and rising role of stablecoins in the industry, FSTB and HKMA have published a consultation paper on regulating its issuers, especially FRS issuers in the light of implementing appropriate supervision to ensure financial stability in this area. The basis for this consultation paper was the „Discussion Paper on Crypto-assets and Stablecoins“ (see eventid=14353) from January 2022, international standards and the ...
Managing cyber risk associated with third-party service providers (PDF File, 176.9 ...
ID 26481
With the rise in digitalisation in the banking industry, the usage of third-party service providers has risen as well, resulting in cyber attacks growing correlatively. Therefore, Raymond Chan, the Executive Director (Banking Supervision) of the HKMA, has drawn up a circular addressed at all Chief Executives of authorized institutions (AIs) with guidelines on how to handle cyber security when using third-party service providers, referring ...
Dubai Financial Services Authority and Hong Kong Monetary Authority join efforts to ...
ID 26372
The Hong Kong Monetary Authority (HKMA) has issued a press release to inform that the Dubai Financial Services Authority (DFSA) and the HKMA itself have formed a partnership to bolster cross-border collaboration and support climate finance in the Middle East and Asia. This partnership aims to advance sustainable finance in the regions and contribute to the net-zero transition in alignment with the goals of ...
Sale and Distribution of Green and Sustainable Investment Products (PDF File, 335.1 ...
ID 26034
In view of the growing interest in ESG-related products and services, the Hong Kong Monetary Authority (HKMA) has recently reviewed the practices of registered institutions (RIs), including retail banks, corporate banks, and private banks, as regards the sale of ESG products (investment funds, green bonds, and certain structured products). The aim was to ensure sufficient safeguards and measures by institutions to monitor the fulfillment ...
Strengthening Fintech Co-operation between the Hong Kong Monetary Authority and the ...
ID 25895
The Hong Kong Monetary Authority (HKMA) has published a press statement to inform that the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market have entered into a Memorandum of Understanding (MoU). This MoU aims to enhance the existing collaboration between the two authorities in FinTech, specifically focusing on cross-border trade data exchange and fostering joint business initiatives. The primary goal is ...
Planned System Enhancement for the Faster Payment System on 26 November 2023
ID 25871
The Hong Kong Monetary Authority, HKMA, has published a press release to inform that the Faster Payment System (FPS) will undergo a planned system enhancement, leading to an unavailability of services from 1:00 a.m. to 11:00 a.m. on November 26, 2023 (Sunday). This enhancement is conducted by the Hong Kong Interbank Clearing Limited, the FPS operator. To ensure seamless communication, the HKMA has urged ...
Deepening Fintech Innovation Supervisory Cooperation in the Guangdong-Hong ...
ID 25728
The Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM) have jointly announced the signing of a „Memorandum of Understanding on Deepening Fintech Innovation Supervisory Cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)“. This agreement aims to establish a network between the PBoC’s Fintech Innovation Regulatory Facility, the HKMA’s Fintech Supervisory Sandbox, and the ...
Applicable Jurisdictional Countercyclical Capital Buffer (CCyB) Ratio for Hong Kong ...
ID 25653
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% for the time being. The decision follows a careful analysis of global and local economic conditions. In this context, the HKMA notes that – although quantitative indicators suggest well-contained overheating risks in Hong Kong – increased uncertainties in ...
Hong Kong FinTech Week 2023
ID 25639
In view of the conclusion of the latest FinTech Week in Hong Kong on November 2, 2023, the Hong Kong Monetary Authority (HKMA) has published a press statement to inform of several initiatives that were announced during the event which are aimed at strengthening Hong Kong’s FinTech capabilities. The key initiatives are briefly described below, for all of them, please refer to the enclosed ...
HKMA publishes the “e-HKD Pilot Programme Phase 1 Report”
ID 25554
The Hong Kong Monetary Authority (HKMA) has published a report on the key findings from phase 1 of the HKMA’s e-HKD Pilot Programme. To recall, the e-HKD pilot program was established two years ago in 2021 to evaluate the potential use of a retail Central Bank Digital Currency (rCBDC) in Hong Kong, the so-called e-HKD. Numerous participants engaged in the program and explored various ...