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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

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  • 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.

Suggested Citation

  • International Monetary Fund, 2021. "People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Banking Sector: Supervision and Regulation," IMF Staff Country Reports 2021/118, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2021/118
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