HKMA issued a circular to all locally incorporated authorized institutions informing that the Banking (Securitization) Code (Code) has been published in the Gazette on January 11, 2019. The Code is issued under section 97M of the Banking Ordinance to provide technical guidance on the qualifying conditions for using the internal assessment approach (introduced in the Banking (Capital) (Amendment) Rules 2018) to calculate the capital requirement for certain securitization exposures. The Code takes effect immediately.
Effective Date: January 11, 2019
Keywords: Asia Pacific, Banking, Securities, Banking Ordinance, BCAR, Banking Securitization Code, Securitization Framework, HKMA
Previous ArticleSBIF Publishes Law to Modernize Banking Legislation in Chile
MAS and Temasek jointly released a report to mark the successful conclusion of the fifth and final phase of Project Ubin, which focused on building a blockchain-based multi-currency payments network prototype.
EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.
APRA updated the lists of the Direct to APRA (D2A) validation rules for authorized deposit-taking institutions, insurers, and superannuation entities.
PRA updated the statement that provides guidance to regulated firms on implementation of the EBA guidelines on reporting and disclosure of exposures subject to measures applied in response to the COVID-19 crisis.
EBA updated the 2019 list of closely correlated currencies that was originally published in December 2013.
FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).
APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.
BCBS and FSB published a report on supervisory issues associated with benchmark transition.
IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.
ESMA updated the reporting manual on the European Single Electronic Format (ESEF).