Hong Kong Monetary Authority (HKMA)
On the move
On the move
Dodd-Frank will hit Asian banks onshore in the US
Dodd-Frank will require some foreign banks to set up intermediate holding companies for their US operations and also subject them to enhanced liquidity, supervision and stress testing. How will Asian banks be affected given the flow of US dollars from…
HKMA warns banks not to weaken liquidity profile to benefit from LCR phase-in
Hong Kong regulator to consult banks on new LCR this quarter and assess level playing field implications before deciding on whether to adopt a phased approach
Opening up of China market will not deplete Hong Kong RMB liquidity
The renminbi deposit base in Hong Kong banks will not face depletion even as investors have more ways of remitting the currency back to mainland China, say speakers at the Asian Financial Forum
Asia regulators try to work together as trade repository regimes begin in 2013
The move to central clearing will generate a wealth of information on derivatives around the region – but making use of this requires both trade repositories and data sharing. Progress on both has been slow
Asic to consult on trade repositories in first quarter 2013
The Australian securities regulator is looking to consult on its trade repository plans at the end of the first quarter, with an eye to implementing the regime later in the year
HKMA mulls over charging for mandatory trade reporting service
The Hong Kong Monetary Authority has begun discussions with OTC derivative market players on whether to charge for use of its trade reporting service
Hong Kong regulator cautious about CoCos
The HKMA is unconvinced about banks issuing contingent convertible instruments, according to Arthur Yuen, deputy chief executive of the HKMA
HK insurers ramp up dollar hedging activities
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high grade collateral resulting from OTC clearing will require Asia playing a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
HKMA’s tight control over default data inputs reduces RWA significance
Hong Kong doesn't give local banks any latitude over the data inputs to their risk models, says one risk manager from the Special Administrative Region
Asia Risk Congress: Local trade repositories are necessary, says HKMA’s Lee
The benefits of local trade repositories outweigh the possible disadvantages of multiple reporting requirements, says executive director of HKMA’s financial infrastructure unit
On the move
On the move
Hong Kong banks need to focus on local fund-raising strategies to meet Basel III requirements
Meeting Basel III liquidity requirements will mean banks in the Special Administrative Region will need to look locally, according to KPMG
CFTC cross-border guidance a threat to ‘systemic stability’, say Asian regulators
Leading regulators from across Asia complain of the potentially negative impact of the US regulator’s latest proposals
HKMA offers banks RMB repo facility
RMB repo facility established as part of continuing process to internationalise currency and deepen RMB markets
HKMA focuses on offshore renminbi: Norman Chan interview
Proximity and tradeflows have seen Hong Kong emerge as the default centre for offshore renminbi trading. Norman Chan, chief executive of the Hong Kong Monetary Authority, explains how his organisation aims to facilitate the market’s further development
Banks spend 25% of compliance budget on overseas regulation
New research finds banks face steep extraterritorial compliance costs
Hong Kong regulator to allow foreign currency liquid assets to make up LCR shortfall
HKMA backs foreign currency option for local banks struggling to meet Basel III’s liquidity coverage ratio
HKMA strikes a cautious note on territory’s banking sector
Hong Kong Monetary Authority concerned about continued credit expansion in the territory and contagion risk from the European sovereign debt crisis
Cross-border confusion between domestic clearing houses
Cross-border confusion
Use of PIT model neutralises impact of counter-cyclical capital buffer
Banks using a PIT model instead of a TTC model may receive a capital saving for the Basel III counter-cyclical capital buffer but such an approach might not be viewed as within the spirit of the rules by regulators
Trade repositories consider connectivity options
With multiple trade repositories appearing in a number of asset classes, including foreign exchange, market participants are considering how competing repositories should collaborate to avoid data inconsistency
Buy-side firms in Asia gear up for clearing
Gearing up for clearing