People's Republic of China—Hong Kong Special Administrative Region: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Super

Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, Corporate Governance, and Anti-Money Laundering and Combating the Finance of Terrorism

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2003 Issue 191

Publication date: June 2003

ISBN: 9781451816907

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Topics covered in this book

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Banks and Banking , Finance , Investments and Securities-General , ISCR , CR , central bank , financial system , monetary policy , corporate governance , U , S , dollar , Hong Kong dollar , banking sector , beneficial owner , HKSAR government , exchange rate , clearing house , Securities , Insurance , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Payment systems , Global

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Summary

This paper evaluates key findings of the Financial System Stability Assessment for Hong Kong Special Administrative Region (SAR), including Reports on the Observance of Standards and Codes on Banking Supervision, Securities Regulation, Insurance Supervision, Payment Systems, Securities Settlement Systems, Monetary and Financial Policy Transparency, and Corporate Governance. Overall, the financial system in Hong Kong SAR is resilient, sound, and overseen by a comprehensive supervisory framework. The banking system is sufficiently well capitalized and profitable to be able to withstand the more likely macroeconomic shocks, although some pressures on bank profits are emerging.