Regulatory Alerts2018-02-02
Added · Updated
Banking (Amendment) Ordinance 2018
The Hong Kong Monetary Authority enacted the Banking (Amendment) Ordinance 2018 to update the regulatory regime regarding large exposure limits and recovery planning. The legislation empowers the Monetary Authority to prescribe rules for large exposures aligned with Basel Committee standards and introduces explicit requirements for authorized institutions to prepare and maintain recovery plans. These provisions are implemented in phases, with recovery planning rules effective immediately and new exposure limit rules targeted for completion by January 2019.
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