Regulatory Alerts2019-08-16
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Frequently asked questions on the Basel III revised standardised approach for operational risk
The Hong Kong Monetary Authority issued this letter to promote consistent global implementation of the Basel Committee on Banking Supervision's revised standardised approach for operational risk. The document highlights technical elaboration and interpretative guidance from the BCBS FAQs covering topics such as non-performing loans, divestiture timelines, and outsourced activities. Authorized institutions are strongly recommended to familiarize themselves with these new requirements and prepare for system changes ahead of the January 2022 implementation date.
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