Regulatory Alerts2021-12-17
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Preparation for Participation in the Credit Reference Platform
The Hong Kong Monetary Authority reminds authorized institutions to prepare for participation in the Credit Reference Platform, which is scheduled to launch by the end of 2022. This initiative supports the Multiple CRAs Model developed by industry associations to enhance service quality and reduce operational risks associated with a single credit reference agency. Institutions are required to follow industry guidance, coordinate with the platform operator HKICL, and adhere to key milestones for system development and testing leading up to the launch.
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