HKMA Revises Guideline on Application of Banking Disclosure Rules
HKMA issued a revised version of the Supervisory Policy Manual module CA-D-1 on guideline on the application of the Banking (Disclosure) Rules (BDR). The module was revised mainly to provide updated interpretative guidance on the application of BDR, which has been substantially amended since 2017 to incorporate the first two phases of the Basel revised Pillar 3 framework. This is a non-statutory guideline issued by the HKMA as a guidance note.
In response to a recent query raised by the industry regarding the expectation for overseas incorporated authorized institutions to conduct, before publication, an internal review of disclosures under section 12.3 of the guideline, HKMA confirmed that such practice may be adopted as soon as practicable, preferably no later than for disclosures relating to the reporting period ending on or after December 31, 2019.
Keywords: Asia Pacific, Hong Kong, Banking, BDR, Disclosure, Supervisory Policy Manual, Pillar 3, Basel III, Banking Ordinance, HKMA
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