Regulatory Alerts2022-07-08
Added · Updated
Supervisory Policy Manual Module IC-6: The Sharing and Use of Consumer Credit Data through Credit Reference Agencies
The Hong Kong Monetary Authority issued a revised statutory guideline requiring authorized institutions to fully participate in sharing consumer credit data via the new Credit Reference Platform. This platform, operated by an independent entity, serves as a data switch within the Multiple CRAs Model to facilitate data exchange between credit providers and credit reference agencies. The revision also streamlines existing guidance by removing outdated provisions, with the platform expected to launch by the end of 2022.
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