Regulatory Alerts2021-12-22
Added · Updated
Code of Practice Chapter ST-1 on Contractual Recognition of Suspension of Termination Rights issued under the Financial Institutions (Resolution) Ordinance
The Hong Kong Monetary Authority issued this Code of Practice Chapter ST-1 to implement the contractual recognition of suspension of termination rights under the Financial Institutions (Resolution) Ordinance. It requires all authorized institutions to incorporate specific contractual clauses into relevant agreements to ensure effective resolution planning. This measure aims to maintain financial stability by preventing the disruption of critical operations during the resolution of failing financial institutions.
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