People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Crisis Management and Bank Resolution Framework-Technical Note

July 16, 2014

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Crisis Management and Bank Resolution Framework-Technical Note, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

This Technical Note on Crisis Management and Bank Resolution Framework was prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Overall, the existing institutional framework facilitates communication and coordination domestically, as well as on a cross-border basis. Information sharing and coordination among domestic regulatory authorities and with the Government is undertaken through a variety of formal mechanisms, which are supported by sound legal bases for the exchange of confidential information. There are complementary structures in place for macro- and micro-prudential supervision that contribute to the prevention and identification of problems in banks. Market-wide or bank intrinsic risk issues will be identified by macroprudential surveillance and bank supervision in the Hong Kong Monetary Authority, or by other financial sector regulatory bodies. The deposit protection scheme is transparent, and trusted; however, steps should be taken to enhance efficiency of pay-outs and to ensure the scheme’s sustainability.

Subject: Artificial intelligence, Bank resolution, Bank resolution framework, Banking, Financial crises, Financial sector policy and analysis, Financial sector stability, Lender of last resort, Technology

Keywords: Artificial intelligence, Asia and Pacific, Bank failure, Bank resolution, Bank resolution framework, Contingent bank Capital Facility, CR, Discount window, Financial sector stability, Financial system, Global, HKMA supervisor, ISCR, Lender of last resort, Member bank, Problem bank, Resolution authorities, Resolution process

Publication Details

Pages:

31
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/209
Stock No:

1HKGEA2014008
ISBN:

9781498352741
ISSN:

1934-7685

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