People S Republic Of China Hong Kong Special Administrative Region Financial System Stability Assessment

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 44 pages
File Size : 53,9 Mb
Release : 2014-05-22
Category : Business & Economics
ISBN : 9781498313216

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People’s Republic of China––Hong Kong Special Administrative Region by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Financial System Stability Assessment report on Hong Kong Special Administrative Region (HKSAR) highlights that HKSAR’s financial sector is very well regulated, with the capacity to withstand a diversity of shocks. The sector, however, faces major risks, which puts a significant premium on effective liquidity management, macroprudential oversight, and microprudential supervision. The regulation and supervision framework of the financial sector is of a high caliber, and displays a high level of compliance with international standards, but there remains scope for further strengthening. Financial market infrastructures are highly sophisticated, but further enhancements are needed to fully comply with new international standards.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 44 pages
File Size : 41,8 Mb
Release : 2014-05-22
Category : Business & Economics
ISBN : 9781498306706

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People’s Republic of China––Hong Kong Special Administrative Region: Financial System Stability Assessment by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Financial System Stability Assessment report on Hong Kong Special Administrative Region (HKSAR) highlights that HKSAR’s financial sector is very well regulated, with the capacity to withstand a diversity of shocks. The sector, however, faces major risks, which puts a significant premium on effective liquidity management, macroprudential oversight, and microprudential supervision. The regulation and supervision framework of the financial sector is of a high caliber, and displays a high level of compliance with international standards, but there remains scope for further strengthening. Financial market infrastructures are highly sophisticated, but further enhancements are needed to fully comply with new international standards.

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 66 pages
File Size : 42,6 Mb
Release : 2021-06-08
Category : Business & Economics
ISBN : 9781513573106

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People’s Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment-Press Release and Statement by the Executive Director for the People’s Republic of China—Hong Kong Special Administrative Region by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

The main macro-financial risks relate to extensive linkages to Mainland China, stretched real estate valuations, and exposure to shifts in global market and domestic risk sentiment, compounded by escalating U.S.-China tensions. Stress tests show that the financial system is resilient to severe macro-financial shocks, but there are pockets of vulnerabilities in foreign bank branches, investment funds, households, and nonfinancial corporates. Hong Kong SAR’s financial sector is also exposed to physical and transition risks from climate change.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 127 pages
File Size : 40,8 Mb
Release : 2014-07-17
Category : Business & Economics
ISBN : 9781498377799

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Stress Testing the Banking Sector-Technical Note by International Monetary Fund. Monetary and Capital Markets Department Pdf

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 33 pages
File Size : 47,7 Mb
Release : 2011-08-31
Category : Business & Economics
ISBN : 9781463902254

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Macao Special Administrative Region of the People's Republic of China: Financial Sector Stability Assessment by International Monetary Fund Pdf

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 45 pages
File Size : 42,5 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781513573281

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

The institutional framework for Macroprudential Policies (MaPP) in the Hong Kong Special Administrative Region (the Hong Kong SAR) is well established. According to the Basic Law, the Government of the Hong Kong SAR shall on its own formulate monetary and financial policies. The Financial Secretary (FS) and the Secretary for Financial Services and the Treasury (SFST) are responsible for policies for maintaining the stability and integrity of the financial system of the Hong Kong SAR. The Hong Kong SAR has a sector-based regulatory structure and the responsibilities and tools for safeguarding financial stability are spread across the Financial Services and the Treasury Bureau (FSTB) and three regulators (namely, the Hong Kong Monetary Authority (HKMA), Securities and Futures Commission (SFC) and Insurance Authority (IA)). There are good and well-structured interagency coordination and consultation mechanisms, through the Council of Financial Regulators (CFR) and the Financial Stability Committee (FSC), chaired by the FS and the SFST, respectively. Broad coordination between the CFR and government agencies on taxation and housing supply-side policies has also worked well. MaPP and risk assessment are communicated to the public openly and frequently through speeches, press releases and regular publications, including the Half-Yearly Monetary and Financial Stability Report of the HKMA and the Half-yearly Review Report of the Global and Local Securities Markets of the SFC.

Author : Anonim
Publisher : Unknown
Page : 128 pages
File Size : 43,6 Mb
Release : 2024-06-15
Category : Electronic
ISBN : OCLC:1323255347

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People's Republic of China-Hong Kong Special Administrative Region by Anonim Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 87 pages
File Size : 42,9 Mb
Release : 2003-06-27
Category : Business & Economics
ISBN : 9781451816907

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People's Republic of China—Hong Kong Special Administrative Region by International Monetary Fund Pdf

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.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 38 pages
File Size : 51,5 Mb
Release : 2014-07-16
Category : Business & Economics
ISBN : 9781498300315

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People’s Republic of China-Hong Kong Special Administrative Region by International Monetary Fund. Monetary and Capital Markets Department Pdf

This Technical Note on Oversight and Supervision of Financial Market Infrastructures has been prepared in the context of the Financial Sector Assessment Program for the People’s Republic of China–Hong Kong Special Administrative Region (HKSAR). Nine financial market infrastructures (FMIs) operate in HKSAR; the effectiveness of their supervision and oversight is critical in maintaining financial stability. In order to support their objective of consolidating Hong Kong’s position as an international financial center, the Hong Kong authorities have fostered the development of sophisticated and multicurrency FMIs. The risks associated with domestic and overseas linkages appear to be adequately managed. Extensive domestic and overseas system linkages have been implemented making HKSAR a regional settlement hub. The legal framework should be amended to explicitly prohibit a domestic clearing house from operating in HKSAR without being recognized as such. The respective legal framework and policy mandate determines the actions of the Hong Kong Monetary Authority and the Securities and Futures Commission as the two regulatory, oversight and supervision authorities for FMIs in HKSAR.

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 26 pages
File Size : 41,6 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781513584072

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

Hong Kong SAR has significantly strengthened its crisis management arrangements through a thorough update of the framework for resolution of financial institutions, as recommended by the 2014 Financial Sector Assessment Program. The 2017 Financial Institutions (Resolution) Ordinance (FIRO) creates a resolution regime that is clear, comprehensive in scope, and closely aligned with the Financial Stability Board (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions. Some aspects of the FIRO, such as the cross-sectoral scope of the regime, are particularly strong. To implement the regime, the Hong Kong Monetary Authority (HKMA) 2 has established a Resolution Office (RO) with clear operational separation from banking supervision.

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 108 pages
File Size : 48,8 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781513573250

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People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Stress Testing the Banking Sector and Systemic Risk Analysis by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

Hong Kong SAR (HKSAR) is a small and open economy, and a major international financial center with extensive linkages to Mainland China. Over the past two years, Hong Kong SAR’s economy and financial sector were adversely impacted by domestic social unrest, US-China tensions, and the global COVID-19 pandemic, resulting in an unprecedented two consecutive years of negative economic growth.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 31 pages
File Size : 53,8 Mb
Release : 2014-07-16
Category : Business & Economics
ISBN : 9781498352741

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People’s Republic of China–Hong Kong Special Administrative Region by International Monetary Fund. Monetary and Capital Markets Department Pdf

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.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 126 pages
File Size : 44,5 Mb
Release : 2011-11-14
Category : Business & Economics
ISBN : 9781463924546

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People's Republic of China by International Monetary Fund Pdf

This report discusses the IMF/World Bank Financial Sector Assessment Program (FSAP) exercise for China undertaken during June–December 2010. The assessment concluded that reforms in China have progressed well in moving toward a more commercially oriented financial system. Despite success and rapid growth, China’s financial sector is confronting several near-term risks, structural challenges, and policy-induced distortions. A properly composed and timely implemented set of reforms would help address these challenges. A framework to resolve weak financial institutions on a timely basis is also needed.

Author : International Monetary,International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 48 pages
File Size : 44,7 Mb
Release : 2021-06-15
Category : Business & Economics
ISBN : 9781513573311

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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 by International Monetary,International Monetary Fund. Monetary and Capital Markets Department Pdf

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.

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 79 pages
File Size : 48,9 Mb
Release : 2017-12-06
Category : Business & Economics
ISBN : 9781484331149

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People’s Republic of China by International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper discusses the findings of the Financial System Stability Assessment (FSAP) for China. Since the 2011 FSAP, China’s impressive economic growth has continued, and it is now undertaking a necessary but prolonged economic and financial transformation. However, tensions have also emerged in various areas of the Chinese financial system. The monetary and fiscal policies aimed at supporting employment and growth have been expansionary in recent years. Pressures to keep nonviable firms open are strong, particularly at the local government level, where these objectives, at times, conflict with financial stability. The demand for high-yield investment products coupled with strengthening oversight of the banking sector has also led to regulatory arbitrage and the growth of increasingly complex investment vehicles.