Regulatory Alerts2020-05-29
Added · Updated
Banking (Capital) (Amendment) Rules 2020
The Hong Kong Monetary Authority issued this letter to confirm that the negative vetting period for the Banking (Capital) (Amendment) Rules 2020 has expired. The regulatory changes are scheduled to come into operation on 30 June 2021. This notification serves as the final procedural step following the initial proposal dated 24 April 2020.
Banking Policy Department Our Ref: B1/15C B9/75C 29 May 2020 The Chief Executive All Authorized Institutions Dear Sir / Madam, Banking (Capital) (Amendment) Rules 2020 Further to our letter of 24 April 2020, I am writing to inform you that the negative vetting by the Legislative Council of the Banking (Capital) (Amendment) Rules 2020 (“BCAR”) has now expired. The BCAR will come into operation on 30 June 2021. Yours faithfully, Daryl Ho Executive Director (Banking Policy) cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association FSTB (Attn: Ms Eureka Cheung)
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