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10/13/2017

Recovery and Resolution Regime – One step forward for financial institutions to safeguard themselves against financial instability

The Hong Kong Monetary Authority (“HKMA”) issued the latest guidelines on the rules Supervisory Policy Manual RE-1 (“SPM RE-1”) and Financial Institutions (Resolution) Ordinance (“FIRO”) for business recovery and resolution planning (“RRP”) respectively in July 2017. These guidelines are established to meet the “Key Attributes of Effective Resolution Regimes for Financial Institutions” set by the Financial Stability Board and will allow financial institutions to effectively manage the challenges arising from financial crisis.

For more information on the highlights of the RRP requirements in HK, please click here.

 

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