Featured Product

    HKMA Extends Local Implementation Timeline for IRRBB

    September 26, 2017

    HKMA is revising the implementation date of the new interest rate risk in the banking book (IRRBB) standards in Hong Kong, from January 01, 2018 to January 01, 2019. Banks should be ready to measure and report their IRRBB exposures using the proposed standardized framework in 2019, with the first report based on data as of December 31, 2018.

    According to the originally intended timeline, banks were expected to be ready to measure and report their IRRBB exposures using the proposed standardized framework by 2018, with the first report to be based on data as of December 31, 2017. HKMA decided to extend the implementation timeline, keeping in mind that the industry responses to the consultation paper expressed legitimate concerns on the relatively tight implementation timeline. The industry highlighted a number of new requirements in the IRRBB standards requiring system changes that would be challenging to implement by January 01, 2018. This consultation paper, which was issued on June 22, 2017, proposed updates to the Supervisory Policy Manual (SPM) IR-1 “Interest Rate Risk Management,” the return “MA(BS)12 – Interest Rate Risk Exposures” (IRR return), and the return “MA(BS)12i – Interest Rate Risk Exposures (Supplementary Information).” 

     

    Keywords: Asia Pacific, Hong Kong, Banking, IRRBB, Basel III, Implementation Timeline, HKMA

    Featured Experts
    Related Articles
    News

    APRA Publishes Approach to Regulating and Supervising GCRA Risks

    APRA published an information paper that sets out a more intensive regulatory approach to transform governance, culture, remuneration, and accountability (GCRA) practices across the prudentially regulated financial sector.

    November 19, 2019 WebPage Regulatory News
    News

    IAIS Publishes Application Paper on Recovery Planning

    IAIS published the final application paper on recovery planning, along with the resolution of comments on the draft application paper.

    November 18, 2019 WebPage Regulatory News
    News

    FSB Publishes Summary of November Meeting of RCG for MENA Region

    FSB published a summary of the November meeting of the Regional Consultative Group (RCG) for Middle East and North Africa (MENA).

    November 17, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for November 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to eight questions that relate to the Bank Resolution and Recovery Directive (BRRD) and the Capital Requirements Regulation and Directive (CRR and CRD).

    November 15, 2019 WebPage Regulatory News
    News

    FSI Examines Use of Red Team Testing to Enhance Cyber Resilience

    The Financial Stability Institute (FSI) of BIS published a paper that examines the contribution of red team testing frameworks toward enhancing cyber resilience.

    November 15, 2019 WebPage Regulatory News
    News

    FASB Delays Effective Dates for CECL, Leases, and Hedging Standards

    FASB issued two Accounting Standards Updates finalizing the delays in effective dates for standards on current expected credit losses (CECL), leases, hedging, and long-duration insurance contracts.

    November 15, 2019 WebPage Regulatory News
    News

    ESMA Updates Q&A on Securitization Regulation in November 2019

    ESMA updated questions and answers (Q&A) on the Securitization Regulation (Regulation 2017/2402).

    November 15, 2019 WebPage Regulatory News
    News

    HKMA Announces Finalization of Banking Liquidity Amendment Rules 2019

    HKMA issued a letter informing all authorized institutions that negative vetting of the Banking (Liquidity) (Amendment) Rules 2019 (BLAR) has now expired. Thus, the BLAR will now come into operation from January 01, 2020.

    November 15, 2019 WebPage Regulatory News
    News

    BCBS Consults on Revised Disclosures for Market Risk Framework

    BCBS launched a consultation on the revised disclosure requirements for the market risk framework for banks.

    November 14, 2019 WebPage Regulatory News
    News

    BCBS Consults on Disclosure Templates of Sovereign Exposures of Banks

    BCBS published a consultation on the voluntary disclosure templates related to sovereign exposures of banks.

    November 14, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4167