Regulatory Alerts2019-03-05
Added · Updated
Reform of Interest Rate Benchmarks
The Hong Kong Monetary Authority requires authorized institutions to prepare for the transition from interest rate benchmarks like HIBOR and LIBOR to alternative reference rates. Institutions must quantify affected exposures, evaluate risks under various scenarios, and formulate action plans to manage prudential risks associated with potential benchmark discontinuation. Board oversight is mandated to ensure progress is monitored and updated in line with international reform developments.
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