Regulatory Alerts2004-03-26
Added · Updated
HKMA Circular on Taxi Financing Arrangements
The Hong Kong Monetary Authority issued this circular to replace the previous Guidance Note on Taxi Financing with new supervisory arrangements effective 1 April 2004. Authorized institutions engaging in taxi and public light bus financing must establish internal policies covering loan-to-value ratios, tenor, portfolio limits, debt servicing ratios, interest rates, and cash rebate amortization. Institutions are required to submit copies of these lending policies to the HKMA by 30 April 2004 for ongoing supervisory monitoring.
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