Regulatory Alerts2022-01-18
Added · Updated
Supervisory Policy Manual TA-2 Foreign Exchange Risk Management V.3
The HKMA updates the supervisory policy manual for foreign exchange risk management, requiring Authorized Institutions to align their risk management frameworks with the BCBS FX Guidance on settlement-related risks. AIs must devise action plans to address identified gaps and achieve full compliance by 18 January 2023, unless an extension is agreed with the HKMA. The manual specifies that locally incorporated AIs with aggregate overnight open position limits higher than 25% of their capital base must provide adequate justification for such limits.
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