Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Zeti Akhtar Aziz
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Carmen Chu
Alan Au
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
515.5995

Press Releases

Consultation on Draft Banking (Disclosure) Rules

The Hong Kong Monetary Authority (HKMA) has today (Friday) released for public consultation a draft of the Banking (Disclosure) Rules. These Rules, together with the Banking (Capital) Rules, comprise the full implementing Rules for Basel II, the new international standard for banks' capital adequacy.

The Rules set out the minimum standards for public disclosure which authorized institutions (AIs) must make in respect of their profit and loss, state of affairs and capital adequacy ratio. They also prescribe the manner in which the disclosures should be made, for example by permitting AIs to rely on disclosures made on their Internet websites, as well as the timing of disclosures. The Rules will be issued pursuant to the Rule-making power conferred by the Banking (Amendment) Ordinance 2005, and will replace the financial disclosure guidelines issued by the HKMA as modules of the Supervisory Policy Manual.

In line with the Recommendations under Pillar 3 of Basel II, the Rules introduce a larger risk-based element into AIs' financial disclosures than hitherto. The HKMA has also taken the opportunity to update its disclosure regime to reflect the adoption in Hong Kong of International Financial Reporting Standards.

The Rules have been developed in close collaboration with several working groups including the Basel II Consultation Group, the Working Party on Financial Disclosure, and the Joint Technical Working Group on Financial Disclosure (which includes representatives of both the Hong Kong Stock Exchange and the Securities and Futures Commission). The HKMA has also taken into account comments received from several rounds of prior consultation with the banking industry associations, the accounting profession, and other interested parties such as rating agencies and analysts. The consultation currently underway provides an opportunity for the banking industry and other interested parties to review the detailed requirements. Comments on any of the provisions contained therein will be taken into account in the final rules where appropriate.

The Monetary Authority is subject to a statutory duty to consult the Banking Advisory Committee, the Deposit-Taking Companies Advisory Committee, the Hong Kong Association of Banks, the DTC Association and the Financial Secretary when making the Rules. The Rules will also be published in the Gazette and subject to negative vetting by the Legislative Council.

The draft Rules, together with an Explanatory Paper, are available on the HKMA website www.hkma.gov.hk. The consultation period will end on 23 September 2006.

The Monetary Authority proposes to implement the Banking (Capital) Rules and the Banking (Disclosure) Rules from 1 January 2007.

For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Ying-ying Cheng, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
1 September 2006

Last revision date: 1 August 2011
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
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