Hong Kong : Establishment of the Resolution Office and senior staff appointments at the Hong Kong Monetary Authority

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) announced today (March 17) that a Resolution Office will be established in the HKMA on April 1, a major step to implement the Financial Institutions (Resolution) Ordinance enacted in June 2016. The Office will work to ensure the Hong Kong resolution regime is operational for banks. Its priorities will be to establish resolution policy standards for banks, define resolution strategies...