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
Previous ArticleCBIRC Consults on Rules for Commercial Banking Subsidiaries in China
APRA announced the standardization of quarterly reporting due dates for authorized deposit-taking institutions.
EBA published the phase 1 of its reporting framework 3.1, with the technical package covering the new reporting requirements for investment firms (under the implementing technical standards on investment firms reporting).
HM Treasury notified that, after considering all responses, the government intends to bring forward further legislation, when the Parliamentary time allows, to address issues identified in the consultation on supporting the wind-down of critical benchmarks.
EIOPA launched the 2021 stress test for the insurance sector in EU.
UK authorities jointly published the third edition of Regulatory Initiatives Grid setting out the planned regulatory initiatives for the next 24 months.
EC is requesting feedback on the proposed Commission Delegated Regulation on the content, methodology, and presentation of information that large financial and non-financial undertakings should disclose about their environmentally sustainable economic activities under the Taxonomy Regulation.
OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.
Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.
ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.
EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.