Regulatory Alerts2018-05-04
Added · Updated
Banking (Disclosure) (Amendment) Rules 2018 and Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018
The Hong Kong Monetary Authority issued the Banking (Disclosure) (Amendment) Rules 2018 and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 to implement Basel Committee on Banking Supervision standards. The Disclosure Rules incorporate enhanced Pillar 3 disclosure requirements from the BCBS March 2017 framework to promote market discipline through improved consistency and comparability. The Amendment Notice allows banks to apply a 0% risk-weight to claims on the Asian Infrastructure Investment Bank under the standardized approach for credit risk. These subsidiary legislation pieces are scheduled for Legislative Council negative vetting on 9 May 2018 with an intended effective date of 30 June 2018.
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