IMF Staff Country Reports

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

June 27, 2003

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International Monetary Fund. Monetary and Capital Markets Department "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 2003, 191 (2003), accessed November 21, 2024, https://doi.org/10.5089/9781451816907.002

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Summary

This paper evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR), including 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, and Corporate Governance. Overall, 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, although some pressures on bank profits are emerging.

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

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