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Hong Kong Wealth Management Monthly Report

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Hong Kong Wealth Management Monthly

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View onlyFirsthand#Banking/Deposits
16 OctFri
  1. Hong Kong Monetary Authority: Speech40

    Opening remarks by Carmen Chu, Executive Director (Banking Supervision) of the HKMA, at the Finance and AI Forum

    Carmen Chu, Executive Director (Banking Supervision) of the HKMA, delivered opening remarks at the Finance and AI Forum, introducing the results of the second phase of the GenAI Sandbox, releasing the latest regulatory guidelines on AI applications based on the "ART" framework, and announcing the establishment of an AI training data sharing platform in collaboration with Cyberport and the University of Hong Kong.

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15 OctThu
  2. HKMA: Press Releases33

    HKMA Launches "ART" Framework to Promote Responsible AI Adoption in the Banking Sector

    The HKMA launched the "ART" framework on October 15, centered on accountability, resilience, and trust, to support the banking sector in responsibly adopting artificial intelligence. The framework is accompanied by the release of the latest regulatory guidelines on the responsible use of AI. It also involves collaborating with Cyberport and the University of Hong Kong to build an AI training data sharing platform, and further testing agentic AI applications through the Generative AI Sandbox++.

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14 OctWed
  1. Federal Reserve: Monetary Policy22

    Federal Reserve Releases Minutes of Discount Rate Meetings Held on August 17, September 9, and September 16, 2026

    On October 13, 2026, the Federal Reserve released the minutes of the discount rate meetings held on August 17, September 9, and September 16, 2026, covering the review and determination of the discount rate offered to depository institutions through the discount window. The process by which the Federal Reserve sets the discount rate is independent of the process by which the Federal Open Market Committee sets the target range for the federal funds rate.

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  2. HKMA: Press Releases39

    HKMA welcomes the launch of the Chongqing-Hong Kong Cross-Border Data Verification Platform

    The Chongqing-Hong Kong Cross-Border Data Verification Platform, facilitated by the HKMA, was officially launched. The platform leverages blockchain technology and hash values to verify customer data without the need for cross-border transmission or storage of original documents. Initially, the platform primarily supports cross-border financial scenarios, with banks in Chongqing and Hong Kong advancing applications related to northbound and southbound data flow verification, covering services such as account opening and loan applications.

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  3. HKMA: Press Releases14

    HKMA Announces Exchange Fund Analytical Account Data as of End-September 2026

    The HKMA announced on October 14 the Exchange Fund analytical account data as of end-September 2026. External assets of the Exchange Fund decreased by HK$76.7 billion to HK$3,576.0 billion during the month. The monetary base stood at HK$2,090.2 billion, claims on the private sector in Hong Kong at HK$473.0 billion, and external liabilities at HK$135.3 billion. This account is published in accordance with the IMF Special Data Dissemination Standard, and the release schedule for the full year 2027 has been announced simultaneously.

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13 OctTue
  1. Hong Kong Monetary Authority: Speech25

    Speech by HKMA Deputy CEO Arthur Yuen at the Opening and Premiere of Standard Chartered Bank's "Anti-Scam Cinema"

    Hong Kong Monetary Authority Deputy Chief Executive Arthur Yuen delivered a speech at the opening and premiere of Standard Chartered Bank's "Anti-Scam Cinema," revealing that Hong Kong lost HK$8.1 billion to fraud last year, with losses exceeding HK$5.2 billion in the first eight months of this year. The HKMA is collaborating with the banking sector and law enforcement agencies to build an anti-fraud ecosystem across four dimensions: within banks, inter-bank, between banks and customers, and through public education. Currently, all 28 retail banks in Hong Kong have joined the Financial Institutions Network against Telecommunications Scams (FINEST).

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12 OctMon
  1. HKMA: Guidelines and Circulars20

    Hong Kong Monetary Authority Releases Data Excellence Practices Guidelines

    The Hong Kong Monetary Authority released the current Data Excellence Practices Guidelines on October 12, 2026, applicable to all authorized institutions. The guidelines include supporting appendices and are linked to multiple current circular documents issued on different dates.

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8 OctThu
  1. HKMA: Guidelines and Circulars16

    HKMA Issues Circular to All Authorized Institutions on Complaints Related to Debt Collection Agents Engaged by Authorized Institutions

    On October 8, 2026, the Hong Kong Monetary Authority (HKMA) issued a circular to all authorized institutions regarding complaints related to debt collection agents engaged by authorized institutions. This circular is linked to multiple previous versions of circulars on the same topic, including documents issued on August 19, 2024, March 26, 2026, and April 10, 2024.

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5 OctMon
  1. InvestHK: Press Releases30

    InvestHK Congratulates Bakai Bank on Receiving Hong Kong Banking Licence, Becoming First Central Asian Bank to Enter Asia-Pacific

    InvestHK announced on October 5, 2026 that Kyrgyzstan commercial bank Bakai Bank has been granted a Hong Kong banking licence by the Hong Kong Monetary Authority, becoming the first Central Asian bank to enter the Asia-Pacific region. The bank will establish a restricted-licence bank in Hong Kong under the name Bakai Bank Open Joint-Stock Company (Hong Kong Branch), serving the trade, investment and capital needs of the Central Asia–Asia-Pacific economic corridor. InvestHK will continue to assist the bank in exploring sustainable development financing and RMB-denominated financing business.

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23 SeptWed
  1. HKMA: Guidelines and Circulars19

    HKMA Launches Review of Enhanced Competency Framework for Banking Practitioners

    The HKMA issued a circular on September 23, 2026, launching a review of the Enhanced Competency Framework for banking practitioners, addressed to all authorized institutions. This review is linked to relevant current circulars issued on June 18, 2020, and December 18, 2015, with supporting attachments updated simultaneously on September 23, 2026.

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22 SeptTue
  1. HKMA: Guidelines and Circulars22

    HKMA Issues Current GS-2 Transition Planning Circular

    The Hong Kong Monetary Authority (HKMA) issued a circular on current GS-2 transition planning on September 22, 2026, applicable to all authorized institutions. This circular is directly linked to the current SPM-NGL document, cross-references the CPR document filed on July 20, 2021, and replaces the old version of SPM-NGL and its corresponding circular dated December 30, 2021.

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  2. Hong Kong Monetary Authority: Speech22

    Speech by Carmen Chu, Assistant Director (Banking Supervision) of the Hong Kong Monetary Authority, at the Welcome Reception of the 2026 Asia Pacific FinTech Innovation Lab

    Carmen Chu, Assistant Director (Banking Supervision) of the Hong Kong Monetary Authority, delivered a speech at the Welcome Reception of the 2026 Asia Pacific FinTech Innovation Lab, noting that the Lab has been running for 13 years and serves as an important bridge connecting fintech startups with the practical operational needs of the Asian banking sector.

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17 SeptThu
  1. Hong Kong Monetary Authority: Speech36

    HKMA Chief Executive Eddie Yue Speaks on the US Federal Open Market Committee's Interest Rate Decision

    Following the established mechanism, the HKMA has raised its Base Rate by 25 basis points to 4.25%, effective immediately. This adjustment corresponds to the Federal Reserve's decision to raise the target range for the federal funds rate by 25 basis points to 3.75-4%, in line with market expectations. Hong Kong's monetary and financial markets continue to operate in an orderly manner. The HKMA will continue to closely monitor market developments to maintain monetary and financial stability.

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3 SeptThu
  1. HKMA: Guidelines and Circulars21

    Hong Kong Monetary Authority Issues Circular on Remote Account Opening for Individual Customers

    On September 3, 2026, the Hong Kong Monetary Authority issued a circular on remote account opening for individual customers addressed to all authorized institutions. This circular is currently in effect and is linked to multiple related current and archived circular documents issued between 2019 and 2026.

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28 AugFri
  1. HKMA: Guidelines and Circulars29

    HKMA Issues Risk-Based AML/CFT Controls Guidance for Politically Exposed Persons

    The Hong Kong Monetary Authority issued risk-based anti-money laundering and counter-terrorist financing controls guidance for politically exposed persons on August 28, 2026, addressed to all authorized institutions. This guidance replaces the previous version issued on November 21, 2025, with accompanying annexes updated simultaneously.

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30 JulThu
  1. Federal Reserve: Monetary Policy24

    Federal Reserve issues Federal Open Market Committee statement

    The Federal Open Market Committee decided by a vote of 9-3 to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent to support its dual mandate. Three members dissented, preferring to raise the target range for the federal funds rate by 1/4 percentage point at this meeting. Inflation remains above the 2 percent target, and economic activity has continued to expand at a solid pace.

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15 JulWed
  1. Federal Reserve: Monetary Policy17

    Board of Governors of the Federal Reserve System Releases Minutes of Discount Rate Meetings Held on June 8 and June 17, 2026

    On July 14, 2026, the Board of Governors of the Federal Reserve System released the minutes of its discount rate meetings held on June 8 and June 17, 2026, covering the review and determination of the discount rate offered to depository institutions through the discount window. The process for setting the discount rate is independent of the process by which the Federal Open Market Committee sets the target range for the federal funds rate.

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