Regulatory Alerts2006-01-05
Added · Updated
Supervisory Policy Manual CR-S-5 Credit Card Business
The Monetary Authority of Hong Kong issues this non-statutory guideline to provide Authorized Institutions with guidance on managing risks associated with credit card business. The document outlines major risks including credit, operational, liquidity, and legal risks, while establishing expectations for board oversight, underwriting standards, and portfolio management. It further details requirements for fraud control, provisioning, and compliance with the Code of Banking Practice to ensure prudent risk management and consumer protection.
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