Regulatory Alerts2022-10-27
Added · Updated
Implementation Arrangements for Lowering Statutory Interest Rate Limits under the Money Lenders Ordinance Annex B: Guidance on Customer Communication
The Hong Kong Monetary Authority issued this circular to implement arrangements following the lowering of statutory limits on effective interest rates under the Money Lenders Ordinance. It provides specific guidance for authorized institutions regarding customer communication strategies to ensure transparency and compliance with the revised regulatory framework. The document serves as Annex B to the broader implementation arrangements, focusing on how banks should inform customers about these changes.
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