HKMA announced that it has approved the upgrading of the restricted banking license of Morgan Stanley Asia International Limited (MSAIL) to a banking licence and has granted banking licenses to Qatar National Bank (QNB), Ping An Bank Co., Ltd. (PAB), and Hua Xia Bank Co., Limited (HXB) under the Banking Ordinance. The upgrading of restricted banking license and the granting of these banking licenses take effect from September 26, 2019.
MSAIL is incorporated in Hong Kong and has been authorized as a restricted license bank in Hong Kong since 2014. MSAIL is a wholly owned banking subsidiary of Morgan Stanley, a bank holding company in the U.S. QNB is incorporated in Qatar while PAB and HXB are incorporated in the People’s Republic of China. After the upgrade and the grant of the above banking licenses, the number of licensed banks in Hong Kong is 164 while the number of restricted license banks in Hong Kong is 17.
Keywords: Asia Pacific, Hong Kong, China, Qatar, Banking, Bank Licenses, Huaxia, Ping An, QNB, HKMA
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.