Regulatory Alerts2008-07-17
Added · Updated
Review of the HKMA's Work on Banking Stability
Mr David T R Carse commissioned by the Hong Kong Monetary Authority issued this review to recommend enhancements for promoting banking system stability under the Banking Ordinance. The report advises against granting the Monetary Authority specific statutory consumer protection powers while recommending strengthened sanction and intervention authorities. Key operational recommendations include reducing the banking system's three-tier structure to two tiers, streamlining supervisory processes, and enhancing macro-prudential surveillance to manage risks from Mainland integration and the global sub-prime crisis.
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