HKMA

On April 29th, the Hong Kong Monetary Authority announced in its 2022 Annual Report today that its focus for 2023 will include virtual assets, and the Authority will refer to the l

On April 29th, the Hong Kong Monetary Authority announced in its 2022 Annual Report today that its focus for 2023 will include virtual assets, and the Authority will refer to the l

It is reported that the bank incident in Silicon Valley continues to ferment. A spokesman of the Hong Kong Monetary Authority said that the HKMA has been closely following the development of SVB. According to the HKMA, the risk exposure of Hong Kong banks to SVB is very small and does not pose a risk to the stability of the Hong Kong banking system. The spokesman of the HKMA reiterated that Silicon ValleyBank did not operate banking business in Hong Kong and only had a local representative office. It is not an authorized institution and therefore cannot operate banking or deposit taking business in Hong Kong. Hong Kong Monetary Authority: Hong Kong banks have little exposure to SVB Analysis based on this information:The recent bank incident involving Silicon Valley Bank (SVB) has been closely monitored by the Hong Kong Monetary Authority (HKMA), as reported by a spokesman of the regulatory body. Despite the controversy surrounding SVB, the HKMA has maintained…

It is reported that the Hong Kong Monetary Authority (hereinafter referred to as the HKMA) will hold two high-level meetings in late March that mainly invite representatives of the central bank and regulators to attend, including the Basel Committee on Banking Supervision (BCBS) meeting held in Hong Kong from March 22 to 23, and a seminar held in Hong Kong with the Bank for International Settlements (BIS) on March 24. Yu Weiwen, the president of the HKMA, said that the seminar on “banking supervision in an era of innovation and keeping pace with the times” jointly organized by the HKMA and BIS was the first international conference on financial supervision after the resumption of Hong Kong’s normal operation. More than 100 leaders of central banks, regulators and financial institutions will be invited to attend the seminar to discuss forward-looking issues related to the banking industry, including how regulators and banks respond to the rapidly changing financial environment, the future development…