Regulatory Alerts2014-04-02
Added · Updated
Simplified reporting of renminbi (RMB) statistics
The Hong Kong Monetary Authority (HKMA) has consolidated five separate renminbi (RMB) statistical surveys into a single return to streamline reporting and reduce the burden on authorized institutions. Starting from the December 2014 reporting position, institutions must file this consolidated return via the STET system within 21 days of the month-end while discontinuing the previous individual surveys. The revision introduces specific simplifications such as merging derivative items, replacing correspondent bank categories with broader Mainland China classifications, and removing redundant compliance certificates.
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