People’s Republic of China-Hong Kong Special Administrative Region : Financial Sector Assessment Program-Basel Core Principles for Effective Banking Supervision-Detailed Assessment of Observance.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2014/207

IMF Staff Country Reports

Language:

English

Subjects (All):

Taxation--China--Hong Kong.

Taxation.

Money--China--Hong Kong.

Money.

Banks and banking--China--Hong Kong.

Banks and banking.

Labor market--China--Hong Kong.

Labor market.

Hong Kong (China)--Foreign economic relations.

Hong Kong (China).

Physical Description:

1 online resource (361 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2014.

Language Note:

English

Summary:

This Basel Core Principles (BCP) for Effective Banking Supervision Detailed Assessment Report 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). The Hong Kong Monetary Authority (HKMA) supervises a major international financial center which was affected, though not significantly so, by the financial crisis. The HKMA is maintaining its commitment to the international regulatory reform agenda and is an early adopter of many standards. Supervisory practices, standards, and approaches are well integrated, risk based and of very high quality. There is one area in relation to the overarching legislative framework and powers which warrants further attention. The HKMA enjoys clear de facto but not de jure operational independence. There are two important cross border dimensions for Hong Kong as an international financial center. One is related to HKSAR’s significant position as a host supervisor. The second is the increasing importance of Mainland China in the current portfolios and prospects of the locally incorporated institutions, and indeed in the choice of HKSAR as a platform for overseas institutions to establish relationships with Mainland China.

Contents:

""Cover""; ""CONTENTS""; ""Glossary""; ""A""; ""B""; ""C""; ""D""; ""E""; ""F""; ""G""; ""H""; ""I""; ""L""; ""M""; ""O""; ""P""; ""R""; ""S""; ""SUMMARY OF KEY FINDINGS AND PRECONDITIONS""; ""A. Introduction""; ""B. Information and Methodology Used for Assessment""; ""C. Overview of Institutional Setting and Market Structure""; ""D. Preconditions for Effective Banking Supervision""; ""E. Supervisory Powers, Responsibilities and Functions""; ""SUMMARY COMPLIANCE WITH THE BASEL CORE PRINCIPLES""; ""RECOMMENDED ACTIONS AND AUTHORITIES COMMENTS""; ""A. Recommended Actions""

""B. Authorities� Response to the Assessment""

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF cover (ebrary, viewed August 27, 2014).

ISBN:

9781484320556

1484320557

9781498304702

1498304702

9781498343824

1498343821

OCLC:

889674751