Regulatory Alerts2011-06-17
Added · Updated
Reverse Mortgage Programme
The Hong Kong Monetary Authority issued this letter to establish supervisory treatments for Authorized Institutions participating in the Hong Kong Mortgage Corporation's Reverse Mortgage Programme. The regulator exempts these loans from standard loan-to-value and debt servicing ratio guidelines while requiring institutions to apply the Standardized Approach for capital adequacy and exclude the data from credit reference agencies. Additionally, participating institutions must report RMP loan positions in statutory returns and provide specific data in the monthly residential mortgage loan survey.
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