Revised HKMA Requirements on Recovery Planning
All Authorized Institutions operating in Hong Kong are required to develop and maintain a recovery. Recovery plan refers to a range of possible actions an AI may feasibly take in a range of stressful situations without considering any form of public support except the eligibility to Hong Kong Monetary Authority liquidity facilities.
The HKMA issued a revised version of the Supervisory Policy Manual on Recovery Planning which is effective from 19 June 2020. This RE-1 incorporates guidance set out in the HKMA circular as of 6 July 2017 and the latest developments in both local and international standards and practices.
This newsletter presents a summary of the key focus areas of the revised SPM for AIs’ reference and consideration. Download and read the detailed information.