Regulatory Alerts2024-11-29
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Supervisory Policy Manual Module TM-C-1: Supervisory Approach on Cyber Risk Management
The Hong Kong Monetary Authority issued Supervisory Policy Manual Module TM-C-1 as a statutory guideline to articulate its policy and supervisory approach for banks managing cyber risks. This module establishes holistic guidance and supervisory processes without introducing new requirements, aiming to address escalating cyber threats and their potential systemic impact on financial stability. It further emphasizes the expectation for deeper collaboration between the banking sector and other stakeholders within the ecosystem to enhance cyber resilience.
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