December 17, 2018

HKMA announced that it will consult the industry in due course on the relevant implementation proposal to give effect to the disclosure requirements of the December 2018 package by BCBS. Meanwhile, the locally incorporated authorized institutions are strongly recommended to study the relevant disclosure requirements and consider any system changes that are necessary for their implementation.

This announcement refers to the recently updated BCBS framework for Pillar 3 disclosures. The December 2018 package by BCBS includes new or revised disclosure requirements on the following:

  • Corresponding capital standards set out in the Basel III post-crisis regulatory reforms, which were released in December 2017 and become effective on January 01, 2022
  • Standards related to asset encumbrance, capital distribution constraints, and prudential treatment of problem assets—the requirements for which become effective at the end of December 2020. 

Keywords: Asia Pacific, Hong Kong, Banking, Basel III, Disclosures, Pillar 3, BCBS, HKMA

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