Featured Product

    HKMA Leads Cross-Border Resolution and Green Finance Groups in Asia

    December 15, 2020

    HKMA has been appointed as the chair of the Study Group on Resolution of the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) for a two-year term from 2020 to 2022. The Study Group on Resolution is a resolution-specific forum within EMEAP and builds on the good work of the previous EMEAP resolution forum, the Focused Meeting on Resolution. The Study Group on Resolution supports knowledge-sharing and discussion among regional authorities in relation to resolution in a cross-border context. The chair of the Study Group on Resolution will be Mr. Stefan Gannon, Commissioner, Resolution Office and the secretariat function will be performed by the HKMA Resolution Office.

    Additionally, the Center for Green Finance (CGF) under the HKMA Infrastructure Financing Facilitation Office (IFFO) and the International Finance Corporation (IFC), a member of the World Bank Group, co-hosted the first IFC Climate Business Webinar during December 14-15, 2020. The event took place virtually in lieu of the previously planned 6th Annual IFC Business Forum, an IFC flagship event to discuss best practices in sustainable business and green banking. The Webinar attracted over 1,500 participants globally from Asia, Europe, the Middle East, Africa, and the Americas. During the IFC Climate Business Webinar, Mr. Eddie Yue, Chief Executive of the HKMA and Mr. Vivek Pathak, IFC’s Director for East Asia and the Pacific, discussed the recent launch of the Alliance for Green Commercial Banks, which is a new global initiative that brings together financial institutions, banking industry associations, research institutions, and innovative technology providers to work together to develop a community of green commercial banks across emerging markets and finance the infrastructure and business solutions needed to urgently address climate change.

    Starting in Asia, in partnership with HKMA, IFC will work to support financial institutions on their journey to become leading green banks. As the founding member and first regional anchor of the Alliance, HKMA will partner with IFC to facilitate green knowledge-sharing between banks, conduct research on green investment opportunities in Asia, provide green finance. "The Alliance will promote green commercial banking that helps banks and their clients manage climate-related risks and seize green and sustainable investment opportunities,” said Eddie Yue, Chief Executive of the HKMA. “The Alliance will help commercial banks green their loan portfolios, design new climate-smart products and services, make their operations carbon neutral, and ultimately make green finance part of their core business. It will also help them manage exposure to climate risk and adopt best practices in managing environmental and social risk in lending and investment, which are areas where IFC has significant global experience,” said Vivek Pathak, IFC’s Regional Director for East Asia and the Pacific.

     

    Keywords: Asia Pacific, Hong Kong, Banking, Climate Change Risk, Sustainable Finance, Cross-Border Resolution, Resolution Framework, HKMA

    Featured Experts
    Related Articles
    News

    EBA Launches Stress Tests for Banks, Issues Other Updates

    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.

    January 31, 2023 WebPage Regulatory News
    News

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    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.

    January 31, 2023 WebPage Regulatory News
    News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    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.

    January 17, 2023 WebPage Regulatory News
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    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.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    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.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    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.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    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.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    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.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8700