Hong Kong Recovery Planning - Wave 3

Aug 2017

In 2014 the Hong Kong Monetary Authority ("HKMA") published its national implementation of the rules Supervisory Policy Manual RE-1 ("SPM RE-1") and provided guidance for Authorised Institutions ("AIs") in Hong Kong on how to develop their recovery plans. 

On 6 July 2017, the HKMA issued further guidance on the implementation of SPM RE-1 which will cover overseas-incorporated AIs with branch operations in Hong Kong and smaller, less complex locally incorporated AIs ("Wave 3 Institutions"). Wave 3 Institutions will be individually notified of the timeline for submitting their recovery plans. Depending on the nature and size of the operations of a particular entity in Hong Kong, the HKMA will require different levels of information to be included in the recovery plan.  Read our paper for full details.

Please click here for our thoughts on resolution planning.

Contact us

Albert Lo
Partner
Tel: +[852] 2289 1925
Email

Brian KY Yiu
Partner
Tel: +[852] 2289 1934
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