HKMA Grants Banking Licenses to QNB, Ping An, and Hua Xia Bank
HKMA announced that it has approved the upgrading of the restricted banking license of Morgan Stanley Asia International Limited (MSAIL) to a banking licence and has granted banking licenses to Qatar National Bank (QNB), Ping An Bank Co., Ltd. (PAB), and Hua Xia Bank Co., Limited (HXB) under the Banking Ordinance. The upgrading of restricted banking license and the granting of these banking licenses take effect from September 26, 2019.
MSAIL is incorporated in Hong Kong and has been authorized as a restricted license bank in Hong Kong since 2014. MSAIL is a wholly owned banking subsidiary of Morgan Stanley, a bank holding company in the U.S. QNB is incorporated in Qatar while PAB and HXB are incorporated in the People’s Republic of China. After the upgrade and the grant of the above banking licenses, the number of licensed banks in Hong Kong is 164 while the number of restricted license banks in Hong Kong is 17.
Keywords: Asia Pacific, Hong Kong, China, Qatar, Banking, Bank Licenses, Huaxia, Ping An, QNB, HKMA
Previous Article
ESMA Publishes Report on Trends, Risks, and Vulnerabilities in EURelated Articles
FINMA Approves Merger of Credit Suisse and UBS
The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.
BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks
The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.
OSFI Finalizes on Climate Risk Guideline, Issues Other Updates
The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.
APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates
The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.
BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending
BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.
HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks
The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.
MFSA Sets Out Supervisory Priorities, Issues Reporting Updates
The Malta Financial Services Authority (MFSA) outlined its supervisory priorities for 2023
German Regulators Issue Multiple Reporting Updates for Banks
Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022
BCBS Report Examines Impact of Basel III Framework for Banks
The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.
PRA Consults on Prudential Rules for "Simpler-Regime" Firms
Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.
