Bank resolution regime rolls out in Hong Kong

HKMA chief outlines how the new bank resolution regime can end the use of taxpayers’ money in case of a bank failure

The bank resolution regime has come into effect on 7 July 2017.

Hong Kong’s new bank resolution regime can end the use of taxpayers’ money to foot the bill in cases of bank failure, according the chief executive of the Hong Kong Monetary Authority (HKMA), Norman Chan.

Alongside the resolution framework, the HKMA also plans to conduct a public consultation on proposals designed to ensure banks have enough loss-absorbing capacity (LAC) for bail-in.

Chan writes that the resolution legislation, which came into effect in July, “arms the HKMA with powers

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