People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes

May 22, 2014

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People’s Republic of China––Hong Kong Special Administrative Region: Report on the Observance of Standards and Codes, (USA: International Monetary Fund, 2014) accessed October 9, 2024

Summary

This paper discusses key findings of the Report on the Observance of Standards and Codes for Hong Kong Special Administrative Region (HKSAR). HKSAR has a very high level of compliance with the Basel Core Principles for Effective Banking Supervision. The Hong Kong Monetary Authority (HKMA) complements its high supervisory standards with a sustained commitment to the international regulatory reform agenda where it is an early adopter of many standards. The banking system is characterized by the dominant presence of institutions with foreign ownership, including the systemic banks, which puts a premium on the HKMA’s role as a host supervisory authority.

Subject: Banking, Commercial banks, Financial institutions, Insurance, Insurance companies, Legal support in revenue administration, Revenue administration, Technology, Virtual currencies

Keywords: Banking sector, Commercial banks, Corporate governance, CR, Financial system, Global, Hedge fund, Holding company, Insurance, Insurance companies, ISCR, Legal support in revenue administration, Risk management, Special administrative region, Virtual currencies

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/131
Stock No:

1HKGEA2014002
ISBN:

9781498388474
ISSN:

1934-7685

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