on 2018-05-2003:36 PM - edited on 2021-08-2304:03 PM by JordanBauman
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s central banking institution. Established in 1993, the HKMA maintains currency stability within the framework of the Linked Exchange Rate System, promotes the stability and integrity of the financial system, help to maintain Hong Kong's status as an international financial centre, and manages the Exchange Fund.
The RSA Archer Content Library provides multiple authoritative sources from regulations produced by the HKMA including:
Hong Kong Monetary Authority E-banking Regulationsupports the risk-based supervisory framework by promoting proper standards of business conduct and prudent risk management practices among AIs so that they operate in a safe and sound manner. This authoritative source sets out guidance on the sound risk management principles and practices applicable to AIs’ electronic banking services (“e-banking” as defined in subsection 1.2). It takes into account the latest developments in the banking industry and in relevant technologies as well as supervisory guidance used in other major jurisdictions so as to facilitate the further development of e-banking in Hong Kong while also enhancing the industry’s risk management controls in this area.
Hong Kong Monetary Authority Principles of Artificial Intelligenceprovides guidance to the banking industry on the use of artificial intelligence applications. The high-level principles set out in this authoritative source have been developed having regard to sound industry practices and similar principles formulated by leading overseas authorities. Banks are expected to take these principles into account when designing and adopting their artificial intelligence and big data analytics applications. These principles are high-level in nature as theHong Kong Monetary Authority is mindful that overly prescriptive or rigid requirements may inhibit the further development of artificial intelligence-related technologies. Banks may apply the principles in a proportionate manner that reflects the nature of theirartificial intelligence applications and the level of risks involved.
The sources for the HKMA content is provided in the links above.
The HKMA authoritative source content is available with the use of the RSA Archer Policy Program Management use case, the RSA Archer IT Policy Program Management use case, and/or the RSA ArcherAssessment & Authorizationuse case. No additional license is required.
For More Information
To learn more about the Hong Kong Monetary Authority (HKMA) Authoritative Source Content: