Self-Assessment of Compliance with the Code of Banking Practice 2023

Our Ref : B1/1C B1/15C 5 January 2024 The Chief Executive All Authorized Institutions Dear Sir / Madam, Self-Assessment of Compliance with the Code of Banking Practice 2023 The annual self-assessment of compliance with the Code of Banking Practice of effective date on 10 December 2021 (“the 2021 Code”), covering the period from 11 December 2022 to 30 June 2023, will be due for submission electronically by 28 March 2024. The assessment period for 2023 only covers the first 6 months of the year as the 2021 Code has been further enhanced with effect from 7 December 2023. Enclosed please find a reporting template for this purpose. The electronic file of the reporting template and the submission instructions will be sent to you via the STET system. The reporting requirements have been specified in the reporting template. Authorized institutions (AIs) are reminded that the Code requires compliance by certain subsidiaries and affiliated companies of AIs, which should also be covered by this self-assessment accordingly. As before, AIs are required to commission their internal audit department, compliance department or other equivalent unit to conduct the self-assessment. The Chief Executive of the AI should co-sign the self-assessment report. Where an instance of non-compliance is identified which is a recurrence of similar instances identified in previous exercises, a full account should be provided.

• 2 - If you have any questions concerning data input and return submission, please contact our helpdesk on 2878 1800. For enquiries regarding the self-assessment, please contact Ms Teresa Tsang on 2878 1351 or Mr Ken Lee on 2878 1357. Yours faithfully, Alan Au Executive Director (Banking Conduct) Encl. c.c. The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association The Chairperson, Code of Banking Practice Committee Secretary for Financial Services and the Treasury (Attn: Mr Justin To)