Project Ensemble 24/7 Settlement: Ensemble TX Adds Tokenised CeBM
Project Ensemble 24/7 settlement: since 2 November 2026 Ensemble TX settles tokenised deposits in tokenised CeBM. What HK banks and payment firms should check.
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HKMA Primary Liquidity Providers: 12 Banks, RMB22bn From 27 October
The HKMA Primary Liquidity Providers list grows to twelve banks on 27 October 2026. In a press release dated 23 October 2026, the Hong Kong Monetary Authority designated the twelve as Primary Liquidity Providers (PLPs) for the offshore renminbi market in Hong Kong, the CNH market, for a two-year term. The same release raises the…
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HKMA ART Framework: Nine AI Principles Replace the 2019 Guidance
On 15 October 2026 the Hong Kong Monetary Authority sent circular B1/15C, “Responsible Adoption of Artificial Intelligence”, to the chief executives of all authorized institutions. Its Annex A is the supervisory core of the HKMA ART Framework: nine principles grouped under Accountability, Resilience and Trust, which supersede the HKMA’s “High-level Principles on Artificial Intelligence” dated…
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HKMA Payment Card Statistics: Inside the Q2 2026 Card Data
On 18 September 2026 the Hong Kong Monetary Authority published its payment card statistics for the second quarter of 2026, and the headline is a large round number: 31.03 million credit cards in circulation by the end of the quarter. The HKMA payment card statistics look like a simple scoreboard, but every line on the…
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Hong Kong SVF Regime: Licensing and Reporting Under the PSSVFO
On 18 September 2026 the Hong Kong Monetary Authority (HKMA) published its stored value facility (SVF) statistics for the second quarter of 2026: 90.38 million SVF accounts in use, around 2.2 billion transactions worth HK$264.7 billion in the quarter, and HK$21.8 billion of user money held as SVF deposit and float at quarter-end. Those figures…
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Hong Kong Taxonomy Phase 2B: 39 Activities and the DNSH Framework in Development
The Hong Kong Monetary Authority opened a public consultation on the Phase 2B prototype of the Hong Kong Taxonomy for Sustainable Finance on 7 September 2026, and the window closes on 7 October 2026. Interested parties may submit comments by 7 October 2026. Firms that use the Taxonomy for products or classifications may therefore wish…
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HKMA-MAS Banking Supervision MoU: The Cross-Border Picture
On 17 September 2025 the Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS) announced that they had exchanged a Memorandum of Understanding on banking supervisory cooperation. The two authorities describe the HKMA-MAS banking supervision MoU as strengthening supervisory cooperation and facilitating the exchange of information and mutual assistance for supervisory purposes,…
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e-HKD Pilot Programme Ends: HKMA’s Wholesale Pivot for Banks
On 28 October 2025 the Hong Kong Monetary Authority published the e-HKD Pilot Programme Phase 2 Report and, with it, drew a line under three years of retail testing. The report sets out the HKMA’s latest policy stance on Hong Kong’s central bank digital currency: the immediate priority for the e-HKD sits in wholesale settlement…
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Hong Kong Carried Interest Tax Concession: Beyond Private Equity
On 12 August 2026, Hong Kong’s Financial Services and the Treasury Bureau (FSTB) answered media enquiries about the preferential tax regime for carried interest and used the reply to draw a boundary. Under the current Schedule 16D, the 0 per cent profits tax concession applies to eligible carried interest received by a qualifying person from…
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HKMA Project Ensemble: Tokenised Deposits Enter Real-Value Pilot
On 13 November 2025, the Hong Kong Monetary Authority (HKMA) launched Ensemble TX, the pilot phase of Project Ensemble, and with it moved tokenised-deposit settlement out of the laboratory and into real-value transactions. HKMA Project Ensemble had spent more than a year as a sandbox; Ensemble TX now lets participating banks settle interbank tokenised deposit…