HKMA will honour Basel III deadline, says executive director
The Hong Kong Monetary Authority's (HKMA) executive director for banking policy, Karen Kemp, says the central bank will honour the Basel Committee's January 1 deadline for introducing new capital standards, despite the US and the European Union being likely to falling short.
In an article published on the central bank's website today (December 6), Kemp praised Basel III for striking an appropriate balance of bolstering banks' resilience without impeding their ability to lend to businesses and
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