Regulatory Alerts1994-12-19
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Risk Management Guidelines for Derivatives Annex A
The Hong Kong Monetary Authority issued these guidelines in December 1994 to require authorized institutions to implement risk management systems commensurate with their derivatives activities. The document mandates that institutions integrate derivatives risk management into their overall framework, ensuring appropriate board oversight, independent risk functions, and robust internal controls. It further specifies requirements for measuring and monitoring credit, market, liquidity, operational, and legal risks through daily marking to market, stress testing, and regular audits.
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