The resolution regime established under the Financial Institutions (Resolution) Ordinance started operation today.
It is a cross-financial sector regime to strengthen the resilience of Hong Kong's financial system.
The Monetary Authority, the Insurance Authority and the Securities & Futures Commission will be the resolution authorities.
Secretary for Financial Services & the Treasury James Lau said the resolution regime is designed to meet the international standards set by the Financial Stability Board.
"It will strengthen the resilience of Hong Kong's financial system and enhance Hong Kong's premier position as an international financial centre," he added.
