Regulatory Alerts2001-12-28
Added · Updated
Establishment of Overseas Banking Subsidiaries: §51A
The Hong Kong Monetary Authority issued Supervisory Policy Manual CG-4 to establish regulatory requirements for the establishment of overseas banking subsidiaries by locally incorporated authorized institutions. This policy mandates consolidated supervision and outlines specific governance and risk management standards for such entities. It ensures that parent institutions maintain adequate control and oversight over their overseas operations to mitigate country and operational risks.
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