What are the major banking regulations in Hong Kong?
The Banking Ordinance (Cap. 155) (BO) (and its subsidiary legislation) is the principal legislation establishing the legal framework for banks in Hong Kong. Its subsidiary legislation includes (among others) governs banking capital, disclosure, liquidity and exposure limits.Dec 1, 2022.
What is the bank ordinance in Hong Kong?
It is an offence for any director or employee of a bank to ask for or accept advantages for his own personal benefit, or for that of his relatives, for showing favour to any person when approving loans or credit facilities from the bank..
What is the regulatory system in Hong Kong?
The four financial regulators are the Hong Kong Monetary Authority (HKMA), the Insurance Authority (IA), the Mandatory Provident Fund Schemes Authority (MPFA)and the Securities and Futures Commission (SFC)..
Who regulates bank in Hong Kong?
Hong Kong Monetary Authority (HKMA) – The HKMA is the principal prudential regulator and supervisor of banks and deposit-taking institutions (including virtual banks) in Hong Kong, pursuant to the Banking Ordinance (BO)..
Who regulates HSBC in Hong Kong?
HSBC Global Asset Management (Hong Kong) Limited is regulated by the Securities and Futures Commission of Hong Kong under the Hong Kong laws, which differ from Australian laws..
Any corporation hoping to operate a banking business or a business of taking deposits must obtain a licence issued by the HKMA. Hong Kong maintains a three-tier system of deposit-taking institutions, comprising licensed banks, restricted licence banks, and deposit-taking companies.
One of the HKMA's primary functions is to regulate and supervise banking business and the business of taking deposits, with a view to promoting the stability and integrity of the financial system (including the banking system).
What is HKMA Reporting? HKMA Reporting refers to the requirement put in place by the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) of Hong Kong for firms to submit details of their derivatives transactions to the HKMA trade repository.
A bank which is carrying on banking or deposit-taking business in Hong Kong is required to be authorised in Hong Kong under the BO. There are no
Banks incorporated in Hong Kong are required to maintain a CET1 capital ratio of at least 4.5%, a Tier 1 capital ratio of at least 6% and a
Promoting the stability and integrity of the financial system, including the banking system. Helping to maintain Hong Kong's status as an international financial centre, including the maintenance and development of its financial infrastructure. Managing the Exchange Fund.
The HKMA is the central banking institution of Hong Kong, as well as the principal regulator responsible for maintaining the stability of the currency and banking system in Hong Kong. The HKMA's four main functions are: Maintaining currency stability within the framework of the Linked Exchange Rate System.
The banking industry is regulated jointly by the HKMA and the Securities and Futures Commission of Hong Kong (SFC) to the extent that AIs carry on business in one or more regulated activities as defined in the Securities and Futures Ordinance 3 (SFO).
Do you need a bank license in Hong Kong?
Any corporation hoping to operate a banking business or a business of taking deposits must obtain a licence issued by the HKMA
Hong Kong maintains a three-tier system of deposit-taking institutions, comprising licensed banks, restricted licence banks, and deposit-taking companies
Banking regulations hong kong
Pearl River Delta metropolitan region in China
The Guangdong–Hong Kong–Macao Greater Bay Area, commonly known as the Greater Bay Area (GBA), is a megalopolis, consisting of nine cities and two special administrative regions in South China. It is envisioned as an integrated economic area aimed at taking a leading role globally by 2035.
Major business houses in Canton
A hong originally designated both a type of building and a type of Chinese merchant intermediary in Guangzhou, Guangdong, China, in the 18–19th century, specifically during the Canton System period.
The Guangdong–Hong Kong–Macao Greater Bay Area
Pearl River Delta metropolitan region in China
The Guangdong–Hong Kong–Macao Greater Bay Area, commonly known as the Greater Bay Area (GBA), is a megalopolis, consisting of nine cities and two special administrative regions in South China. It is envisioned as an integrated economic area aimed at taking a leading role globally by 2035.
Major business houses in Canton
A hong originally designated both a type of building and a type of Chinese merchant intermediary in Guangzhou, Guangdong, China, in the 18–19th century, specifically during the Canton System period.
