HKMA Extends Implementation Date of Exposure Limits Rules for Banks

The industry associations have been informed about, and consulted on, the detailed proposals to amend the BELR on May 28, 2018. However, HKMA anticipates the negative vetting of the amendments by the Legislative Council to be completed only around the end of this year. By then HKMA also expects to have published the announced details on the grouping of linked counterparties, including operational guidance for the identification of links between counterparties due to economic dependence. In light of the tight implementation timeline and some legitimate concerns that were articulated by industry representatives, HKMA has extended the implementation timeline by six months.

Effective Date: July 01, 2019

Keywords: Asia Pacific, Hong Kong, Banking, Large Exposures, BELR, Implementation Timeline, Basel III, HKMA