Hong Kong leads Asia with creditor bail-in resolution regime
The Hong Kong Monetary Authority, the Securities and Futures Commission and the Insurance Authority have launched the first stage of public consultation on establishing a resolution regime for financial institutions, in keeping with guidelines established by the Financial Stability Board.
Hong Kong’s existing laws do not give authorities sufficient power to deal with non-viable financial institutions without hurting financial stability or wasting public funds, according to the city’s regulator.The resolution regime, which would be implemented in 2015, will give regulators the power to resolve failing financial ...
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