MAS and HKMA Sign Memorandum of Understanding on Banking Supervision

The announcement boosts collaboration between regulators and aims to improve supervision of banks in both regions. 

➡️ The MoU allows the two authorities to both share information and cooperate on oversight. 

✅ Firms operating in both Hong Kong #HK and Singapore should review their regulatory reporting processes, ensuring that reports provide sufficient detail and context for cross-border supervision and supervisory engagement.