HKMA preparing prescriptive climate stress test for 2023

Regulator plans granular scenario specifications, considers Pillar 2 capital measures


The Hong Kong Monetary Authority intends to adopt a more prescriptive approach when it conducts a second climate stress test in 2023, so that it can more effectively compare the risks faced by banks. The first test took place in 2021, with results published in December that year alongside a new supervisory policy manual on climate risk.

“Drawing on the lessons learnt from the pilot exercise, enhancements will be made to the exercise framework by incorporating more granular scenario

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