The HKMA is responsible for the authorization, regulation and supervision of banking business and the business of taking deposits in Hong Kong.
The HKMA adopts a risk-based approach in evaluating banks’ safety and soundness, risk-management systems and internal controls. This enables the HKMA to pre-empt any serious threat to the stability of the banking system.
Apart from banks, the HKMA is also responsible for approving and supervising money brokers operating in the interbank foreign exchange and deposit markets in Hong Kong.
See Also
Chief Executive Officer