Regulatory Alerts2021-08-26
Added · Updated
Financial Institutions (Resolution) (Contractual Recognition of Suspension of Termination Rights—Banking Sector) Rules
The Hong Kong Monetary Authority issued these rules to implement the contractual recognition of suspension of termination rights within the banking sector. The regulations require authorized institutions to incorporate specific contractual terms that allow for the suspension of termination rights during the resolution of a financial institution. This measure supports financial stability by preventing the destabilizing effects of early contract termination during a crisis.
CIR
Current
Issue Date:
26 Aug 2021
20210826-1-EN.pdf (232.7 KB)
Topic:
Resolution - Resolution planning
Resolution - Resolution standards
Group:
All Authorized Institutions
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Superseded Document
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Directly related Document
Cross referenced Document
Version History
Superseded Document
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