HKMA decided to postpone the supervisor-driven stress test exercise for 2020 by one year. The exercises is being postponed to 2021 to provide additional operational capacity for banks to respond to the challenges brought by the COVID-19 outbreak. Additionally, HKMA published a Circular addressed to all licensed banks, providing information on the temporary USD Liquidity Facility that was announced to help banks meet their USD funding needs. The USD liquidity will be provided in the form of repurchase transactions for a term of seven days, with a total of USD 10 billion being available under the facility.
Keywords: Asia Pacific, Hong Kong, Banking, COVID-19, Stress Testing, US Dollar Liquidity Facility, Liquidity Risk, Repo Transactions, HKMA
The European Banking Authority (EBA) launched the 2023 European Union (EU)-wide stress test, published annual reports on minimum requirement for own funds and eligible liabilities (MREL) and high earners with data as of December 2021.
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.