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
Previous ArticleESRB Report Examines Macro-Prudential Measures Adopted in EU in 2018
EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.
MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.
ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.
EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).
PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.
The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.
FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.
OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.
To support recovery from the COVID-19 crisis, EU has published two regulations to amend the securitization framework, as set out in the Securitization Regulation (2017/2402) and the Capital Requirements Regulation or CRR (575/2013).
HM Treasury announced that G7 Finance Ministers and Central Bank Governors met ahead of COP 26, the 2021 UN Climate Change Conference, and agreed on green agenda.