People’s Republic of China–Hong Kong Special Administrative Region: Financial Sector Assessment Program-Technical Note-Systemic Risk Oversight and Macroprudential Policies

The institutional framework for Macroprudential Policies (MaPP) in the Hong Kong Special Administrative Region (the SAR) is well established. According to Basic Law, Government of SAR shall on its own formulate monetary and financial policies. Financial Secretary (FS) Services Treasury (SFST) are responsible policies maintaining stability integrity system SAR. has a sector-based regulatory structure responsibilities tools safeguarding spread across Bureau (FSTB) three regulators (namely, Monetary Authority (HKMA), Securities Futures Commission (SFC) Insurance (IA)). There good well-structured interagency coordination consultation mechanisms, through Council Regulators (CFR) Stability Committee (FSC), chaired by FS SFST, respectively. Broad between CFR government agencies taxation housing supply-side also worked well. MaPP risk assessment communicated public openly frequently speeches, press releases regular publications, including Half-Yearly Report HKMA Half-yearly Review Global Local Markets SFC.