Regulatory Alerts2018-02-28
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Circular on BCBS Sound Practices Implications of Fintech Developments for Banks and Bank Supervisors
The Hong Kong Monetary Authority issued this circular on February 28, 2018, to communicate the Basel Committee on Banking Supervision's sound practices regarding fintech developments. The document outlines specific implications for banks and bank supervisors, addressing the challenges and opportunities presented by emerging financial technologies. It serves as a regulatory guidance framework for authorized institutions to manage risks and adapt to the digital transformation of the banking sector.
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