Regulatory Alerts2022-07-08
Added · Updated
The Sharing and Use of Consumer Credit Data through Credit Reference Agencies
The Hong Kong Monetary Authority issues this statutory guideline to establish minimum standards for Authorized Institutions regarding the sharing and use of consumer credit data via Credit Reference Agencies. The policy mandates comprehensive participation in the Multiple Credit Reference Agencies Model and requires strict information security safeguards, including access control and data accuracy measures. Additionally, it outlines specific procedures for handling positive mortgage data, such as obtaining prescribed consent and verifying mortgage counts to enhance credit risk management.
More like this from HKMA
HKMA published 11 documents in the last 30 days. We email you each new one the day it's published.
Topics
privacy
credit
Share