HK’s FX clearing needs improvement – IMF

However, the assessment of Hong Kong’s financial system stability said that the territory’s authorities had already drafted legislation to try and address weaknesses, although it did not specify what these problems were.

The IMF also said there needed to be an improvement in the collection of data on foreign exchange risk in the corporate sector. This will “enable the regulatory authorities to better assess potential vulnerabilities of the financial system”.

The report added that FX

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