Regulatory Alerts2018-03-22
Added · Updated
Reminder of Operating Arrangements for the Convertibility Undertaking
The Hong Kong Monetary Authority issued this notice to inform licensed banks of changes to the operating arrangements for the Convertibility Undertaking effective 1 August 2005. The HKMA London office ceased operations for this undertaking due to internal restructuring, while Hong Kong and New York offices now provide joint 24-hour coverage with specific daily hours. Licensed banks must ensure their overseas offices route deals through their Hong Kong office for settlement via HKD and USD RTGS systems.
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