Regulatory Alerts2014-01-14
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Risk Management of Personal Lending Business
The Hong Kong Monetary Authority issued this circular to address rising household indebtedness and enforce stricter risk management standards for personal lending by Authorized Institutions. The regulator mandates that institutions adopt prudent underwriting practices, including binding debt-servicing ratio limits, consistent loan tenors, portfolio-based limits, and internal stress testing. Authorized Institutions were required to align their policies with these supervisory requirements by March 2014 and report implementation details to the HKMA by April 2014.
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