Regulatory Alerts2025-09-05
Added · Updated
Supervisory Policy Manual Module CG-7: Benchmark Submission
The Hong Kong Monetary Authority issues this statutory guideline to establish minimum standards for systems of control that Authorized Institutions must implement when submitting rates for benchmark fixings. The document mandates robust organizational governance, conflict of interest management, record retention, and independent reviews to ensure the integrity of benchmarks such as HKD HIBOR and CNH HIBOR. It further requires submitters to adhere to specific codes of conduct for rate corroboration and to promptly report any suspected manipulation or collusion to the regulator.
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