HKMA issued a circular informing all authorized institutions that the new return for large exposures (Form MA(BS)28) and the accompanying completion instructions have been finalized. Annex 1 of the circular contains the finalized form MA(BS)28, along with the accompanying completion instructions. Additionally, HKMA published “Introduction” part of the Completion Instructions of Return of Capital Adequacy Ratio (MA(BS)3). The revised "Introduction" is enclosed in Annex 2 of the circular for reference.
An authorized institution that is ready to comply with the Banking (Exposure Limits) Rules (BELR) should start to use form MA(BS)28 for reporting purposes, beginning from the period of end-September 2019. The authorized institution that is not yet ready may still use the old return form MA(BS)1D for reporting during the grace period allowed under the BELR; however, the institution but must switch to using MA(BS)28 starting from the reporting position of end-March 2020.
The circular also highlights that the “Introduction” part of the Completion Instructions of MA(BS)3 has been revised incidental to the introduction of a risk-weighted amount for sovereign concentration risk in the capital adequacy ratio calculation. This part only provides for an overview of the return and reporting requirements and, therefore, the changes should not entail any real reporting impact. HKMA has also published Return of Certificate of Compliance (MA(BS)1F), MA(BS)3, and their accompanying completion instructions.
Keywords: Asia Pacific, Hong Kong, Banking, Large Exposures, Reporting, CAR Return, BELR, Capital Adequacy, Basel III, HKMA
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