Regulatory Alerts2022-10-27
Added · Updated
Implementation Arrangements in Connection with the Lowering of Statutory Limits of Effective Rates of Interests as Stipulated in the Money Lenders Ordinance (Cap. 163)
The Hong Kong Monetary Authority issued this guidance to all Authorized Institutions regarding the implementation arrangements for the lowered statutory limits on effective interest rates under the Money Lenders Ordinance. The document outlines the impact of these revised limits on the banking industry as referenced in section 12.3 of the Code of Banking Practice. It further provides specific guidance for customer communications to ensure compliance with the new regulatory requirements.
CIR
Current
Issue Date:
27 Oct 2022
20221027-3-EN.pdf (200.1 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Superseded Document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
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
Annex
Current
27 Oct 2022
Annex B - Guidance in respect of customer communication
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
Annex
Current
27 Oct 2022
Annex B - Guidance in respect of customer communication
Cross referenced Document
Version History
Superseded Document
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