Regulatory Alerts2022-07-22
Added · Updated
Code of Practice Chapter LFIR-1 Resolution Planning - Liquidity and Funding in Resolution
The Hong Kong Monetary Authority issued Chapter LFIR-1 of the Code of Practice under the Financial Institutions (Resolution) Ordinance to establish expectations for authorized institutions regarding liquidity and funding capabilities. This new chapter requires institutions to maintain specific arrangements in business-as-usual conditions to prevent impediments to orderly resolution if they cannot access funding during a crisis. The Authority also released an updated version of Chapter RA-1 to reflect changes in the Resolution Office's internal reporting lines while confirming its operational independence.
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