Regulatory Alerts2021-03-05
Added · Updated
Enhanced Currency Conversion Arrangement Involving Onshore RMB (CNY) under Northbound Bond Connect
The Hong Kong Monetary Authority issued this circular on March 5, 2021, to implement an enhanced currency conversion arrangement for onshore Renminbi transactions under the Northbound Bond Connect. The regulatory framework mandates specific reporting requirements for market participants to ensure compliance and transparency in foreign exchange activities. This update is accompanied by annexes detailing frequently asked questions and precise reporting obligations to facilitate the smooth operation of the new conversion mechanism.
CIR
Current
Issue Date:
05 Mar 2021
20210305-2-EN.pdf (282.7 KB)
Topic:
Market Risk Management - Foreign exchange
Renminbi
Group:
Specific
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
Annex
Current
05 Mar 2021
Annex 1 - Frequently Asked Questions in Relation to The Enhanced Currency Conversion Arrangement under Bond Connect
Annex
Current
05 Mar 2021
Annex 2 - Reporting Requirements for Enhanced Currency Conversion Arrangement under Northbound Bond Connect
Annex
Current
05 Mar 2021
Annex 1 - Frequently Asked Questions in Relation to The Enhanced Currency Conversion Arrangement under Bond Connect
Annex
Current
05 Mar 2021
Annex 2 - Reporting Requirements for Enhanced Currency Conversion Arrangement under Northbound Bond Connect
Cross referenced Document
Version History
Superseded Document
You may also be interested in
CIR
Archive
31 Mar 2011
Renminbi (RMB) Fiduciary Account
CIR
Current
30 Mar 2006
Personal Renminbi ("RMB") Business
CIR
Current
12 Nov 2014
Renminbi (RMB) Business