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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In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
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HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).