Regulatory Alerts2019-08-16
Added · Updated
Supervisory Policy Manual (SPM): Revised module CA-D-1 Guideline on the Application of the Banking (Disclosure) Rules
The Hong Kong Monetary Authority issued a revised Supervisory Policy Manual module to provide updated interpretative guidance on the Banking (Disclosure) Rules, which were substantially amended to incorporate the first two phases of the Basel revised Pillar 3 Framework. The revision clarifies that overseas incorporated Authorized Institutions may adopt internal review practices for disclosures under section 12.3 as soon as practicable, preferably no later than for reporting periods ending on or after 31 December 2019. This guidance note follows consultation with industry associations and serves to align local disclosure requirements with international Basel Committee standards.
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