Key Functions

Monetary Stability
Linked Exchange Rate System
Interest Rate Adjustment Mechanism
Liquidity Support to Banks
EFAC Currency Board
Transparency of Currency Board Operations
Notes & Coins of
Hong Kong
Coin Collection Programme
Milestones of Monetary Reform
History of Hong Kong's Exchange Rate System
Banking Stability
Banking Policy & Supervision
The Three-tier Banking System
Regulatory & Supervisory Framework
Key Banking Regulations
Advisory Committees
Regulation of Money Brokers
Implementation of International Standards
Leverage Ratio
Countercyclical Capital Buffer(CCyB)
Systemically Important Authorized Institutions (SIBs)
Exposure Limits
Other International Regulatory Standards
Resolution Framework
Resolution Standards
Resolution Planning
Resolution Execution
Resolution Publications
Consumer Corner
HKMA’s Work in Relation to Strengthening Financial Consumer Protection
Consumer Education Programme
Frequently Asked Questions
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, ردوا)
Complaints about Banks
Internet Banking
Security Controls for ATM Services
Guide to Authorization
Supervisory Policy Manual
Enhanced Competency Framework for Banking Practitioners
Oversight of Financial
Market Infrastructures
Sharing of Mortgage Data
Anti-Money Laundering and Counter-Financing of Terrorism (AML/CFT)
AML/CFT-related Circulars
Sanctions-related Notices and Updates
International Financial Centre
International & Regional Financial Co-operation
International & Regional Financial Co-operation
Participation in Multilateral Agencies & International Forums
Co-operation with Other Central Banks
Application of the "One Country, Two Systems" Principle
Renminbi Business in Hong Kong
Infrastructure Financing Facilitation Office (IFFO)
Debt-market Development
Exchange Fund Bills & Notes
Government Bond Programme
Important Policy Initiatives Affecting The EFBN Programme & Other Hong Kong Dollar Debt Instruments
Financial Infrastructure in Hong Kong
Payment Systems
OTC Derivatives Trade Repository
System Links
Pan-Asian CSD Alliance
Retail Payment Development
Faster Payment System
Useful Links
Regulatory Regime for Stored Value Facilities (SVF) and Retail Payment Systems (RPS)
Regulation of Stored Value Facilities (SVF)
Complaints about SVF Licensees
Regulatory Regime for Retail Payment Systems (RPSs)
Fintech Facilitation Office (FFO)
Shenzhen-Hong Kong Fintech Award 2018
Shenzhen-Hong Kong Fintech Award 2017
Announcement about Tendering of the Global Trade Connectivity Network (GTCN)
FCAS 2.0: Shenzhen Summer Internship
Fintech Supervisory Sandbox (FSS)
Open Application Programming Interface (API) for the Banking Sector
Phased Approach
Contact Information
Enhanced Competency Framework for Banking Practitioners
Exchange Fund


A stable financial system is contingent upon individual financial institutions (FIs) being resilient and capable of continuing provision of critical financial functions which are essential to the functioning of the Hong Kong economy. The HKMA as banking supervisor plays a key role in safeguarding financial stability by taking or imposing measures designed to strengthen banks’ resilience to shocks.

However, there may still be rare cases where notwithstanding a stringent supervisory regime an FI nevertheless comes under such severe stress that it becomes non-viable. So a necessary core feature of the resolution framework is to ensure that FIs can fail in an orderly manner without significant adverse consequences for the financial system or the wider economy, whilst seeking to avoid exposing taxpayers to losses.

Resolution is an administrative process which enables authorities to achieve the above by using the powers available under the resolution regime to intervene and to manage the failure of an FI in circumstances where such failure could have adverse systemic consequences. Resolution differs from existing insolvency procedures in that it is designed to preserve the continued provision of critical financial functions by an FI whilst still imposing the costs of failure on the shareholders and certain creditors of the FI.

The Financial Institutions (Resolution) Ordinance (FIRO) establishes the legal basis for a cross-sector resolution regime in Hong Kong, under which the Monetary Authority is the resolution authority for banking sector entities including all authorized institutions. The Monetary Authority is also designated as the lead resolution authority for each of the existing cross-sectoral groups in Hong Kong that include banking sector entities within the scope of the FIRO (Click here for the list of cross-sectoral groups). The Monetary Authority’s function as a resolution authority is supported by the Resolution Office within the HKMA. The Resolution Office is operationally independent and has a direct reporting line to the Chief Executive of the HKMA (i.e. the Monetary Authority).


10 August 2017

inSight on Bank Resolution Regime - A Newly Established
Line of Defence for Banking Stability

7 July 2017

Operational Independence of the Monetary Authority as
Resolution Authority (RA-1)

Last revision date: 27 April 2018
Tender Invitations
Legislative Council Issues
The HKMA Information Centre
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
Press Releases
Guidelines & Circulars
Forthcoming Events
Information in Other Languages (Bahasa Indonesia, हिन्दी, नेपाली, ਪੰਜਾਬੀ, Tagalog, ไทย, اردو)
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery