Regulatory Alerts2019-07-05
Added · Updated
Revised Return of Certificate of Compliance (MA(BS)1F) and Return of Capital Adequacy Ratio (MA(BS)3) Temporary Reporting Arrangement
Locally incorporated authorized institutions (AIs) must follow specific reporting instructions to compile the Certificate of Compliance for positions in September and December 2019 while utilizing grace periods for compliance with the Banking Ordinance (BO) in lieu of the Banking (Capital) Rules (BELR). The document details how to report on items in Part II and Part III of the form, including reporting zero for exposures fully covered by the grace period or reporting maximums for partially utilized periods. Additionally, AIs are required to submit a signed hard copy of the pre-revision Certificate version to the HKMA, completing specific parts as if BO sections 81, 83, and 88 were still in operation.
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