Regulatory Alerts2018-06-07
Added · Updated
Banking (Disclosure) (Amendment) Rules 2018 and Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018
The Hong Kong Monetary Authority's Banking Policy Department announces that the negative vetting period for the Banking (Disclosure) (Amendment) Rules 2018 and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 has expired. Consequently, these regulatory instruments are scheduled to come into operation on 30 June 2018. The amended rules will first apply to authorized institutions regarding required disclosures for their 2018 financial year interim and quarterly reporting periods.
Banking Policy Department Our Ref: B1/15C B9/75C B9/151C 7 June 2018 The Chief Executive All Authorized Institutions Dear Sir/Madam, Banking (Disclosure) (Amendment) Rules 2018 and Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 Further to our letter of 4 May 2018, I write to inform you that the negative vetting by the Legislative Council of the Banking (Disclosure) (Amendment) Rules 2018 (“BDAR 2018”) and the Banking (Specification of Multilateral Development Bank) (Amendment) Notice 2018 (“the Amendment Notice”) has now expired. As a result, the BDAR 2018 and the Amendment Notice will come into operation on 30 June 20181 . Yours faithfully, Daryl Ho Executive Director (Banking Policy) cc: The Chairperson, The Hong Kong Association of Banks The Chairman, The DTC Association FSTB (Attn: Ms Eureka Cheung) 1 The BDAR 2018 will first apply to an authorized institution concerning the required disclosures of its interim reporting period (and of its quarterly reporting period which ends on the same date as its interim reporting period) in relation to its 2018 financial year.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.