We have prepared an update to our periodic client briefing note on the latest RRP regulatory developments across the Asia Pacific region.
• The HKMA issued a confidential consultation paper on recovery and resolution planning (RRP) on 20 November 2012 (the HKMA RRP Consultation Paper). The HKMA RRP Consultation Paper requested authorised institutions (AIs) to submit responses to 24 questions in relation to the implementation of RRP in Hong Kong by 18 January 2013. The HKMA RRP Consultation Paper, and responses/conclusions thereto, are not publicly available.
• On 24 March 2014, the HKMA issued a consultation paper on establishing and implementing a regulatory and supervisory framework for: (i) identifying and designating AIs as domestic systemically important banks (D-SIBs) in Hong Kong; and (ii) applying a range of prudential and supervisory requirements to the AIs so designated (the HKMA D-SIB Consultation Paper) 1 . The deadline for responses to the 18 questions set forth in the HKMA D-SIB Consultation Paper was 26 May 2014.