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
Previous ArticleFED Publishes Results of the 2019 Stress Tests for Banks
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.