Regulatory Alerts2023-12-29
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Gazettal of rules: Basel III final package and related updates
The Hong Kong Monetary Authority gazetled four banking amendment rules to implement the Basel III final package and incorporate consequential updates. These regulations introduce a positive neutral countercyclical capital buffer and enhance capital and liquidity requirements to better address bank risk exposures. The rules are subject to Legislative Council negative vetting, with significant provisions effective from 1 April 2024 and remaining provisions intended for 1 January 2025.
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