Regulatory Alerts2022-06-30
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Embedding climate risk in banking supervision
The Hong Kong Monetary Authority issued a two-year plan to integrate climate risk into its banking supervisory processes. The regulator requires authorized institutions to address climate risk through updated prudential meetings, revised CAMEL ratings, thematic examinations on greenwashing, and regular stress testing. Additionally, the HKMA is enhancing its greenness assessment framework and exploring regulatory capital adjustments to incentivize improved climate risk management.
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