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.
CIR
Current
Issue Date:
27 Oct 2022
20221027-5-EN.pdf (234.8 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Superseded Document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 A - Impact of the revision to the interest rate limits under the MLO on the banking industry via section 12.3 of the CoBP
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 A - Impact of the revision to the interest rate limits under the MLO on the banking industry via section 12.3 of the CoBP
Cross referenced Document
Version History
Superseded Document
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