Overview of risk-based supervision in Hong Kong
In its recent report on emerging markets, the Bank for International Settlements provided a summary of the latest efforts of the Hong Kong Monetary Authority (HKMA) to enhance the efficacy of its risk management.
Risks and challenges
The HKMA’s recent ‘Risk and Challenges’ study drew awareness to these growing risks:
• Technology
• Issues arising from the increasing presence of Hong Kong banks in the mainland Chinese market
• Increased compliance risks
• Growing complexity of banking operations
• Work in relation to Basel II implementation and new accounting standards, and
• A structural shift in the Hong Kong banking sector, with smaller local banks becoming more vulnerable to competitive pressure.
Due to
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