Regulatory Alerts2001-06-29
Added · Updated
Supervisory Policy Manual SPM-SGL: Problem Credit Management
The Hong Kong Monetary Authority issues this statutory guideline to require Authorized Institutions to implement robust systems for the early identification and efficient management of problem credits. The policy mandates that institutions establish independent problem credit management units with clear authorities, structured work-out processes, and rigorous oversight of collateral and external agencies. Furthermore, it obligates senior management to conduct regular reviews and independent audits to ensure the effectiveness of debt recovery strategies and the accuracy of credit portfolio reporting.
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