Basel III Final Reform Package – New and Amended Codes of Practice

Banking Policy Department
Our Ref: B1/15C, B9/75C
B9/130C, B9/155C, B9/188C
S4/3C, S4/11C, S4/16C
6 December 2024
The Chief Executive
All Authorized Institutions
Dear Sir/Madam,
Basel III Final Reform Package – New and Amended Codes of Practice I am writing to inform you that in connection with certain provisions of the Banking (Capital) (Amendment) Rules 2023 and the Banking (Exposure Limits) (Amendment) Rules 2023 coming into operation on 1 January 2025 as part of the implementation of the Basel III final reform package:
(i) a new Banking (Capital) (Operational Risk) Code; (ii) an amended Banking (Exposure Limits) Code; and (iii) an amended Banking (Liquidity Coverage Ratio – Calculation of Total Net Cash Outflows) Code, were published in the Gazette today, each of which will take effect on 1 January 2025. Yours faithfully, Richard Chu Acting Executive Director (Banking Policy) cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association FSTB (Attn: Mr Justin To)