Regulatory Alerts2022-10-27
Added · Updated
Implementation Arrangements for Lowering Statutory Interest Rate Limits under the Money Lenders Ordinance
The Hong Kong Monetary Authority issued this circular to outline implementation arrangements for the lowering of statutory limits on effective interest rates under the Money Lenders Ordinance. The document specifically details the impact of these revised interest rate limits on the banking industry via section 12.3 of the Code of Banking Practice. It also references Annex B, which provides guidance to authorized institutions regarding necessary customer communications to ensure compliance with the new regulatory standards.
CIR
Current
Issue Date:
27 Oct 2022
20221027-4-EN.pdf (104.2 KB)
Topic:
Banking Conduct & Enforcement - Code of Banking Practice
Credit Risk Management - Others
Group:
All Authorized Institutions
Directly related Document
Cross referenced Document
Version History
Superseded Document
Directly related Document
CIR
Current
27 Oct 2022
Implementation Arrangements in Connection with the Lowering of Statutory Limits of Effective Rates of Interests as Stipulated in the Money Lenders Ordinance (Cap. 163)
Annex
Current
27 Oct 2022
Annex B - Guidance in respect of customer communication
CIR
Current
27 Oct 2022
Implementation Arrangements in Connection with the Lowering of Statutory Limits of Effective Rates of Interests as Stipulated in the Money Lenders Ordinance (Cap. 163)
Annex
Current
27 Oct 2022
Annex B - Guidance in respect of customer communication
Cross referenced Document
Version History
Superseded Document
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