Banking (Disclosure) (Amendment) Rules 2016 and Banking (Specification of Class of Exempted Charges) (Amendment) Notice 2016

Banking Policy Department Our Ref.: B1/15C B9/151C B9/135C 2 March 2017 The Chief Executive All Authorized Institutions Dear Sir/Madam, Banking (Disclosure) (Amendment) Rules 2016 and Banking (Specification of Class of Exempted Charges) (Amendment) Notice 2016 Further to our letter of 30 December 2016, I write to inform you that the negative vetting by the Legislative Council of the Banking (Disclosure) (Amendment) Rules 2016 (“BDAR 2016”) and the Banking (Specification of Class of Exempted Charges) (Amendment) Notice 2016 (“the Amendment Notice”) has now expired. As a result, the Amendment Notice and the BDAR 2016 will come into operation respectively on 3 and 31 March 20171 . To cater for the new class of exempted charges introduced under the Amendment Notice, the return of Certificate of Compliance with the Banking Ordinance of an authorized institution incorporated in Hong Kong (Form MA(BS)1F(a)) and the accompanying Completion Instructions (CIs) have been revised taking into account comments received from industry consultation. The electronic file for the revised Return and CIs will be available for downloading starting 3 March 2017 from the HKMA’s supervisory communication website (http://www.stet.iclnet.hk). Locally incorporated authorized institutions should start using this version of the return for the reporting period ending 31 March 2017. Should you have any questions on the above, please contact: (for the BDAR 2016) Mr Lai-chun So on 2878-1919 or Miss Theresa Kwan on 2878-1093; (for the Amendment Notice and the associated revised Return or CIs) Miss Cora Li on 2878-1143 or Mr Andy Cheung on 2878-1022; or (for the technical aspect of the Return template or STET submission) the HKMA’s STET helpdesk on 1 The revised disclosure requirements under the BDAR 2016 will first apply to any disclosure (quarterly, semi-annual / interim or annual) relating to an authorized institution’s 2017 financial year.

2 2878-1800. Yours faithfully, Richard Chu Acting Executive Director (Banking Policy) c.c. The Chairperson, The Hong Kong Association of Banks The Chairman, The DTC Association FSTB (Attn: Ms Eureka Cheung)