HKMA offers fast-track model vetting in swaps hub pitch
Streamlined process could take just six months, says official
Hong Kong’s regulator is offering ‘fast-track’ model approval to banks, as it seeks to become a regional hub for the booking of derivatives.
Watchdogs in the UK and elsewhere are pushing international banks to book trades nearer to where they originate, rather than executing back-to-back transactions that route the exposure to a global booking hub, such as London. If the bank lacks approval to
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