Regulatory Alerts2023-04-21
Added · Updated
Guidelines for Banking Sector Climate Risk Stress Test
The Hong Kong Monetary Authority issued enhanced guidelines for the second round of the Climate Risk Stress Test to comprehensively assess authorized institutions' exposure to climate risks. The updated framework introduces a new five-year scenario, expands assessment requirements to cover less susceptible exposures, and implements more detailed reporting standards with granular metrics. This exercise runs from June 2023 to June 2024, allowing institutions to adjust portfolios under long-term transition scenarios to reflect established climate commitments.
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