IMF Staff Country Reports

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

June 15, 2021

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation, (USA: International Monetary Fund, 2021) accessed October 15, 2024

Summary

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.

Subject: Artificial intelligence, Bank soundness, Bank supervision, Basel Core Principles, Commercial banks, External audit, Financial institutions, Financial regulation and supervision, Financial sector policy and analysis, International organization, Monetary policy, Public financial management (PFM), Technology

Keywords: Artificial intelligence, Asia and Pacific, B. banking sector structure, Bank soundness, Bank supervision, Basel Core Principles, Central Asia, China banking, Commercial banks, External audit, Global, Holding company, People's republic of china-Hong kong special administrative region, People's Republic of China-Hong Kong Special Administrative Region FSAP

Publication Details

  • Pages:

    48

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Country Report No. 2021/118

  • Stock No:

    1HKGEA2021006

  • ISBN:

    9781513573311

  • ISSN:

    1934-7685