Regulatory Alerts2022-10-27
Added · Updated
Streamlined Launch Arrangements for New Personal-Lending Portfolio Products
The Hong Kong Monetary Authority has removed the requirement for prior discussion with authorized institutions before launching products under the New Personal-Lending Portfolio framework. This change follows a review confirming that the overall asset quality of these data-driven lending products is comparable to conventional portfolios. Authorized institutions must now notify the regulator on an ex-post basis, report data regularly, and continue adhering to prudent credit risk management and responsible lending principles.
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