Supervisory Policy Manual Module IC-6: The Sharing and Use of Consumer Credit Data through Credit Reference Agencies

Our Ref: B1/21C, B4/1C, B9/32C & B9/60C 28 November 2022 The Chief Executive All Authorized Institutions Dear Sir / Madam, Supervisory Policy Manual (“SPM”) Module: IC-6 “The Sharing and Use of Consumer Credit Data through Credit Reference Agencies” Further to the Hong Kong Monetary Authority’s circular of 8 July 2022 on the above SPM Module, I write to inform you that the Effective Date as defined under paragraph 2.1 of the above SPM Module has been set as 28 November 2022, which is the launch date of the Credit Reference Platform (CRP). To ensure smooth transition to the Multiple Credit Reference Agencies Model, Authorized Institutions are reminded to take timely actions for participation in the initial data load and data validation processes as scheduled and follow the advice of the Industry Associations, Platform Operator and Business Operator of the CRP issued from time to time. Should you have any questions regarding this circular, please contact Ms Katrina Ng at 2878-1338 or Mr Gary Wong at 2878-1416. Yours faithfully, Alan Au Executive Director (Banking Conduct) cc: The Chairperson, The Hong Kong Association of Banks The Chairperson, The DTC Association Secretary for Financial Services and the Treasury (Attn: Mr Justin To)