Regulatory Alerts2020-04-03
Added · Updated
Liquidity measures in response to Covid-19 outbreak
The Hong Kong Monetary Authority issued this directive to ensure the smooth operation of the interbank market and banking system amid liquidity strains caused by the Covid-19 outbreak. The measures include clarifying operational parameters for the Standby Liquidity Facility, facilitating access to US dollar liquidity via the Federal Reserve's FIMA Repo Facility, and encouraging authorized institutions to utilize their liquidity buffers under the LCR and LMR regimes to support business activities. The regulator also mandates that institutions establish efficient internal procedures for accessing these facilities and will conduct drills to verify operational readiness.
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