The progressive development of digitalisation initiatives will bring profound changes to how the HKMA works and further enhance its efficiency, says deputy chief Howard Lee.
To register passport funds that can be offered in overseas markets, fund managers in Korea must have at least $500mn under management and meet a $1mn minimum capital requirement.
At the second meeting of the Banking Sector SME Lending Coordination Mechanism, established in October, banks agreed to a number of additional measures to aid SME borrowers.
Each financial institution will be required to identify and plan for the execution of a suite of recovery options to restore its long-term viability under a range of stress events.
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