Events listed in [HKMA] Hong Kong Monetary Authority
Commencement of the e-HKD Pilot Programme
ID 23307
The Hong Kong Monetary Authority (HKMA) has published a press statement to announce the initiation of the e-HKD Pilot Programme which aims to explore the potential of a retail central bank digital currency (CBDC) known as e-HKD. For a first round of pilot projects taking place in 2023, the HKMA selected 16 firms from the financial, payment, and technology sectors, including the *Bank of ...
Official Launch of Northbound Trading of Swap Connect
ID 23248
Following the most recent publication by the Securities and Futures Commission of Hong Kong (SFC) on May 5, 2023 to inform of some relevant details of new Northbound trading under the SWAP Connect scheme (please see EventID 21136 in this context for more information), the Hong Kong Monetary Authority (HKMA) has now published a press statement in this context. Therein, the Authority informs that ...
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 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 ...
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) ...
Tentative issuance schedule for HKSAR Government Bonds under the Institutional Bond ...
ID 22818
The Hong Kong Monetary Authority (HKMA) has published a press release to announce its new tentative issuance schedule for „Government Bonds (GBs) offered under the Institutional Bond Issuance Programme“. The schedule covers the period from April 1, 2023 through September 30, 2023 and sets out the tentative tender and issuance dates, the respective issuance sizes, and the tenors of the instruments. The schedule is ...
Reform of interest rate benchmarks (PDF File, 113.4 KB)
ID 22780
The Hong Kong Monetary Authority (HKMA) has issued a circular as regards the termination of the remaining US dollar LIBOR tenors. Therein, the regulator basically reminds institutions of such termination, which includes the cessation of the 1-month, 3-month, and 6-month tenors, and asks them to distribute the enclosed flyer to their corporate customers. The flyer sets out – the final termination date of the ...
Circular Issued by the Insurance Authority („IA“) on Cessation of Phase ...
ID 22676
On April 4, 2023, the Hong Kong Monetary Authority HKMA issued a circular as regards the „Cessation of Phase 2 of the Temporary Facilitative Measures (TFM)“. Specifically, the HKMA informs authorized institutions and insurance companies about the cessation of specific measures that were introduced in 2020 in light of the COVID-19 pandemic. The measures provided for a non-face-to-face distribution of certain long-term insurance products ...