26 May 2020
Further to the deferral of the Basel III implementation announced by the Group of Central Bank Governors and Heads of Supervision (GHOS) on 27 March 2020, the Basel Committee on Banking Supervision (BCBS) issued additional guidance to alleviate the impact of Covid-19 on the global banking system on 3 April 2020. HKMA sets out below the application of this guidance in the context of Hong Kong.
1) Clarifications on the treatment of extraordinary support measures related to Covid-19
2) Expected credit loss provisioning
3) Margin requirements for non-centrally cleared OTC derivatives
Read More: https://www.hkma.gov.hk/media/eng/doc/key-information/guidelines-and-circular/2020/20200525e1.pdf