People's Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, Corporate Governance, and Anti-Money Laundering and Combating the Finance of Terrorism
IMF Staff Country Reports, June 27, 2003
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- People's Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, Corporate Governance, and Anti-Money Laundering and Combating the Finance of Terrorism
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Bibliographic details
- Published: June 27, 2003
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451816907.002
Scope and Purpose
- Evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR).
- Includes Reports on the Observance of Standards and Codes on:
- Banking Supervision
- Securities Regulation
- Insurance Supervision
- Payment Systems
- Securities Settlement Systems
- Monetary and Financial Policy Transparency
- Corporate Governance
- Anti-Money Laundering and Combating the Financing of Terrorism
Executive Summary / Main Conclusions
- The financial system in Hong Kong SAR is resilient, sound, and overseen by a comprehensive supervisory framework.
- The banking system is sufficiently well capitalized and profitable to be able to withstand the more likely macroeconomic shocks.
- Some pressures on bank profits are emerging.
Key Findings
- Resilience and soundness:
- Financial system characterized as "resilient" and "sound".
- Oversight provided through a "comprehensive supervisory framework".
- Banking sector:
- Described as "sufficiently well capitalized and profitable" to withstand likely macroeconomic shocks.
- Note: "some pressures on bank profits are emerging."
Subjects and Keywords
- Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial institutions, Financial markets, Financial services, Insurance, Payment systems, Securities
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), banking sector, beneficial owner, central bank, clearing house, corporate governance, CR, exchange rate, financial system, Global, HKSAR government, Hong Kong dollar, Insurance, ISCR, monetary policy, Payment systems, Securities, U.S. dollar