Regulatory Alerts2019-08-09
Added · Updated
Supervisory Policy Manual SPM: CR-L-1 Consolidated Supervision of Concentration Risks and CR-L-5 Major Acquisitions and Investments
The Hong Kong Monetary Authority issues two Supervisory Policy Manual modules, CR-L-1 and CR-L-5, as statutory guidelines under the Banking Ordinance to align with the new Banking (Exposure Limits) Rules. These revisions primarily update cross-references and technical details, such as Tier 1 capital calculations, to reflect the replacement of former provisions in the Banking Ordinance. A substantial change to module CR-L-5 elaborates on new exemptions for share acquisitions in the insurance business or for trading purposes, which were introduced in response to industry feedback.
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