People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation

International Monetary Fund

No 2021/118, IMF Staff Country Reports from International Monetary Fund

Abstract: Banking supervision and regulation by the Hong Kong Monetary Authority (HKMA) remain strong. This assessment confirms the 2014 Basel Core Principles assessment that the HKMA achieves a high level of compliance with the BCPs. The Basel III framework (and related guidance) and domestic and cross-border cooperation arrangements are firmly in place. The HKMA actively contributes to the development and implementation of relevant international standards. Updating their risk based supervisory approach helped the HKMA optimize supervisory resources. The HKMA’s highly experienced supervisory staff is a key driver to achieving one of the most sophisticated levels of supervision and regulation observed in Asia and beyond.

Keywords: People's republic of china-Hong kong special administrative region; B. banking sector structure; holding company; China banking; People's Republic of China-Hong Kong Special Administrative Region FSAP; Bank supervision; Artificial intelligence; Commercial banks; Basel Core Principles; Bank soundness; Global; Central Asia; Asia and Pacific; External audit (search for similar items in EconPapers)
Pages: 48
Date: 2021-06-15
New Economics Papers: this item is included in nep-acc, nep-rmg and nep-sea
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