Regulatory Alerts2024-12-13
Added · Updated
Guidelines for Counterparty Credit Risk Management
The Hong Kong Monetary Authority informed authorized institutions that the Basel Committee on Banking Supervision published new Guidelines for counterparty credit risk management on 11 December 2024. These guidelines replace a 1999 paper and introduce key practices including comprehensive counterparty due diligence, robust credit risk mitigation strategies, diverse measurement metrics, and strong governance frameworks. The HKMA will update its Supervisory Policy Manual module CR-G-13 to reflect these standards and encourages institutions to review their current policies to address any material gaps.
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