Alan Hoo has been appointed Chairman of the Capital Adequacy Review Tribunal, while David Eldon, Prof Lam Kin, Elizabeth Law and Martin Liao have been named members for three years from January 1.
The tribunal will be established under the Banking Ordinance to review certain decisions made by the Monetary Authority under the Banking (Capital) Rules, which set out technical details of how authorised institutions should calculate their capital-adequacy ratios.
The Banking (Capital) Rules specify that certain Monetary Authority decisions - which relate to the choice of approaches for the calculation of credit, market and operational risks - are subject to the tribunal's review on the application of an aggrieved institution. The rules will come into force on January 1.
The Financial Services & the Treasury Bureau said the tribunal's establishment is part of the implementation plan for the new capital-adequacy regime, in line with the international capital-adequacy standards commonly known as Basel II.
It said Hong Kong is among the first international financial centres to implement Basel II standards. The increased attention to risk and incentive for enhanced risk management under the new regime will contribute to greater robustness and stability of the banking system.
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