Regulatory Alerts2022-05-27
Added · Updated
Banking (Capital) (Amendment) Rules 2022
The Hong Kong Monetary Authority issued this notice to confirm that the negative vetting period for the Banking (Capital) (Amendment) Rules 2022 expired without extension. Consequently, the subsidiary legislation is mandated to come into operation on 1 July 2022. This directive informs all Authorized Institutions of the effective date for the amended banking capital requirements.
Banking Policy Department Our Ref: B1/15C B9/75C 27 May 2022 The Chief Executive All Authorized Institutions Dear Sir/Madam, Banking (Capital) (Amendment) Rules 2022 Further to our letter of 22 April 2022, I write to inform you that the 28-day period for the negative vetting by the Legislative Council of the Banking (Capital) (Amendment) Rules 2022 has expired without extension. As a result, the subsidiary legislation will come into operation on 1 July 2022. Yours faithfully, Frank Leung Acting Executive Director (Banking Policy) cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association FSTB (Attn: Mr Justin To)
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