Regulatory Alerts2024-10-10
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Gazettal of commencement notice for Basel III final reform package
The Hong Kong Monetary Authority issued a notice confirming that the Banking (Capital) (Amendment) Rules 2023 will commence on 1 January 2025. This date applies to Parts 3 and 5 of the rules, which incorporate the Basel III final reform package into local legislation regarding credit, operational, market, and CVA risks. Consequential amendments to the Banking (Disclosure), (Liquidity), and (Exposure Limits) Rules will also take effect simultaneously on that date.
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