HKMA issued a circular to all authorized institutions informing that the Banking (Exposure Limits) Code has been published in the Gazette on June 21, 2019. The Code is issued under section 97M of the Banking Ordinance to provide technical guidance to the interpretation of the Banking (Exposure Limits) Rules, or BELR (Chapter 155S). The guidance particularly relates to the grouping of “linked counterparties” by the “economically dependent” factor under Rule 41 of the BELR. In line with the BELR, the Code will take effect on July 01, 2019.
Effective Date: July 01, 2019
Keywords: Asia Pacific, Hong Kong, Banking, Banking Ordinance, BELR, Banking (Exposure Limits) Code, Large Exposures, HKMA
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