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

Related Articles
News

PRA Finalizes Reporting Amendments to Pillar 2 Liquidity Framework

PRA published the final Policy Statement PS13/19 on regulatory reporting amendments and clarifications to the Pillar 2 liquidity framework for banks in UK.

June 17, 2019 WebPage Regulatory News
News

FSB Assesses Implementation of Compensation Standards and Principles

FSB published the sixth progress report on the implementation of its principles and standards for sound compensation practices in financial institutions.

June 17, 2019 WebPage Regulatory News
News

IMF Publishes Reports on 2019 Article IV Consultation with Ireland

IMF published its staff report and selected issues report under the 2019 Article IV consultation with Ireland.

June 17, 2019 WebPage Regulatory News
News

EBA Updates Data on Deposit Guarantee Schemes in EU

EBA published the 2018 data on two key concepts in the Deposit Guarantee Schemes Directive (DGSD)—namely, available financial means and covered deposits.

June 17, 2019 WebPage Regulatory News
News

SNB Updates Form for Reporting Solvency Risk of Counterparties

SNB published the survey (Form Release 5.01) and related documentation for reporting solvency risk of counterparties in the interbank sector (ARIS).

June 17, 2019 WebPage Regulatory News
News

ISDA Studies Variation in Global Implementation of Margin Requirements

ISDA published a paper that highlights the main areas of difference in the implementation of margin requirements for non-cleared derivatives across jurisdictions and makes recommendations on how to resolve these variations.

June 17, 2019 WebPage Regulatory News
News

US Agencies Finalize Rule to Streamline Reporting for Small Banks

US Agencies (FDIC, FED, and OCC) adopted a final rule to streamline the regulatory reporting requirements for small institutions.

June 17, 2019 WebPage Regulatory News
News

IAIS Consults on Revisions to IAIS Supervisory Material

IAIS has launched a public consultation on revisions to the IAIS supervisory material.

June 14, 2019 WebPage Regulatory News
News

IMF Paper on Implementing Prudential Standards in Developing Economies

IMF published a working paper that provides practical guidance on how developing economies, including non-Basel Committee member countries, could incorporate international standards into their prudential framework.

June 14, 2019 WebPage Regulatory News
News

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

EBA published answers to five questions under the Single Rulebook question and answer (Q&A) updates for this week.

June 14, 2019 WebPage Regulatory News
RESULTS 1 - 10 OF 3262