On 29 Nov 2024, the HKMA revised SPM Module CA-G-1 to align with the Basel III final reform package under the Banking (Capital) (Amendment) Rules 2023, enhancing clarity and policy intent. The updated module becomes effective on 1 January 2025, superseding the prior version.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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Introduction
On 29 Nov 2024, the Hong Kong Monetary Authority (HKMA) issued a revised version of Supervisory Policy Manual (SPM) Module CA-G-1, 'Overview of Capital Adequacy Regime for Locally Incorporated Authorized Institutions', as a statutory guideline under section 7(3) of the Banking Ordinance following consultation with industry associations.
Key Regulatory Changes
The revised module incorporates changes to align with the latest capital standards, primarily the Basel III final reform package as implemented under the Banking (Capital) (Amendment) Rules 2023. These amendments focus on improving the clarity and accurately reflecting the policy intent of existing guidance within the module, without introducing new regulatory requirements.
Implementation and Access
The revised module will take effect on 1 January 2025. Authorized Institutions may access the updated SPM Module CA-G-1 via the HKMA’s public website and the Supervisory Communication Website, replacing the previous version effective from the implementation date.
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