Regulatory Alerts2025-10-10
Added · Updated
Cross-boundary Credit Referencing
The Hong Kong Monetary Authority outlines guiding principles to regularize the Cross-boundary Credit Referencing initiative following successful pilots with the People’s Bank of China. The document recommends two collaboration models for credit data transfer and mandates that authorized institutions integrate these verified records into their credit risk management systems. Additionally, the regulator requires institutions to ensure secure data handling, obtain proper customer consent, and conduct consumer education to facilitate broader market adoption.
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credit
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