Regulatory Alerts2022-01-18
Added · Updated
Revised SPM Module TA-2: Foreign Exchange Risk Management
The Hong Kong Monetary Authority issued a revised Supervisory Policy Manual module TA-2 to align its foreign exchange risk management requirements with the Basel Committee on Banking Supervision's guidance. This update aims to specify regulatory expectations more granularly, particularly regarding risks associated with the settlement of foreign exchange transactions. Authorized Institutions must achieve full compliance within one year of the circular's date, with the regulator encouraging the use of payment-versus-payment arrangements to mitigate settlement risks.
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