On Aug. 27, HKMA proposed three drafts re Basel III final reform.
HKMA consulted the banking industry on proposed new/revised codes of practices.
To provide guidance for certain provisions in capital rules, exposure limits rules and liquidity rules in relation to implementation of the Basel III final reform package.
Follows HK GVT Dec. 2023 gazetted rules regarding Basel III final package, #196408.
Document dated Aug. 27, 2024, received from HKMA Sep. 2, summarized on Sep. 5.
Draft Codes of Practice
Code of practice for the purposes of providing guidance in respect of the provisions of section 323 and section 336 of the Banking (capital) rules (chapter 155L).
Code of practice for the purposes of providing guidance in respect of the provisions of rules 20(4)(b), 29(2), 31, 37(2) and (3) and 41 of the Banking (exposure limits) rules.
Code of practice for the purposes of providing guidance in respect of the provisions of division 5 (calculation of total net cash outflows) of part 7 of Banking (liquidity) rules.
Consultation Period
Deadline for comments is Sep. 27, 2024.
Dec. 2024 Finalized Codes of Practices
On Dec. 6, 2024, HKMA published the finalized codes of practices for banking industry.
