LEADER 08557oam 22014294 450 001 9910791297603321 005 20200520144314.0 010 $a1-4983-9416-7 010 $a1-4983-7779-3 010 $a1-4983-9217-2 035 $a(CKB)2550000001345656 035 $a(EBL)1770287 035 $a(OCoLC)889674707 035 $a(SSID)ssj0001398963 035 $a(PQKBManifestationID)11908505 035 $a(PQKBTitleCode)TC0001398963 035 $a(PQKBWorkID)11447047 035 $a(PQKB)10229883 035 $a(MiAaPQ)EBC1770287 035 $a(Au-PeEL)EBL1770287 035 $a(CaPaEBR)ebr10913242 035 $a(CaONFJC)MIL638362 035 $a(NjHacI)992550000001345656 035 $a(IMF)1HKGEE2014009 035 $a(IMF)1HKGEA2014009 035 $a(EXLCZ)992550000001345656 100 $a20020129d2014 uf 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aPeople?s Republic of China?Hong Kong Special Administrative Region : $eFinancial Sector Assessment Program-Stress Testing the Banking Sector-Technical Note 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2014. 215 $a1 online resource (128 p.) 225 1 $aIMF Staff Country Reports 300 $aDescription based upon print version of record. 311 $a1-4983-2263-8 311 $a1-322-07111-X 327 $a""Cover""; ""CONTENTS""; ""GLOSSARY""; ""EXECUTIVE SUMMARY""; ""INTRODUCTION""; ""A. Background and Objective""; ""B. Synopsis""; ""SOLVENCY STRESS TESTS""; ""A. Summary of All Solvency Stress Tests""; ""B. Bottom-Up Solvency Stress Tests""; ""C. Top-Down Solvency Stress Tests""; ""D. Reconciliation of Solvency Stress Tests""; ""LIQUIDITY STRESS TESTS""; ""SUMMARY AND POLICY IMPLICATIONS""; ""REFERENCES""; ""BOX""; ""1. Overview of the Systemic Contingent Claims Approach Framework for Stress Testing and the Implementation in the Context of Hong Kong SAR""; ""FIGURES"" 327 $a""1. Macroprudential Stress Tests of Banking Sector""""2. Structural Features of Hong Kong Financial Sector""; ""3. Banking Sector Developments""; ""4. Banking Sector Soundness""; ""5. Banking Sector Performance""; ""6. Banking Sector Lending and Deposit Composition""; ""7. Banking Sector Lending and Deposit Trends""; ""8. Macroeconomic Assumptions under Different Stress Test Scenarios (1)""; ""9. Macroeconomic Assumptions under Different Stress Test Scenarios (2)""; ""10. Liquidity and Short-term Funding""; ""11. Top-down Liquidity Stress Test Results Implied Cash Flow Analysis"" 327 $a""12. Evolution of Aggregate Capital Ratios in Solvency Stress Tests (1)""""13.Evolution of Aggregate Capital Ratios in Solvency Stress Tests (2)""; ""14. Comparison of IMF Top-down Solvency Stress Test Results Baseline and Severe Adverse Scenario, Capital Adequacy Ratio (Total Capital)""; ""15. Comparison of IMF Top-down Solvency Stress Test Results Baseline and Severe Adverse Scenario, CET1 Ratio""; ""16. Solvency Stress Test (IMF Top-down Approach) Risk Drivers"" 327 $a""17. Systemic Contingent Claims Approach Distribution of Market-Implied Individual Expected Losses (Historical and Forecasted)""""TABLES""; ""1. Risk Assessment Matrix""; ""2. Stress Test Matrix (STeM) for the Banking Sector Liquidity""; ""3. Stress Test Matrix (STeM) for the Banking Sector Solvency""; ""4. Financial Soundness Indicators of the Banking Sector, 2007""; ""5. Economic Activity under Different Scenarios""; ""6. HKMA Solvency Top-down Stress Test-Detailed Assumptions (Scenario Analysis)""; ""7. Liquidity Stress Test Maturity Mismatch Analysis"" 327 $a""8. Systemic Contingent Claims Approach Comparison of Total Assets for Locally Incorporated Licensed Banks and Respective Listed Entities""""9. Overview of Sample Banks in the Solvency and Liquidity Stress Testing Exercise""; ""10. Overview of Risk Approach (Basel II) of Sample Banks in Top-down Solvency Stress Test""; ""11. Supervisory Stress Tests: Implied Cash Flow and Credit/Market Risk Linkages of Liquidity Conditions""; ""12. Basel III Liquidity Risk Framework: Standard Measures (LCR and NSFR)""; ""13. Summary of Satellite Model Estimation"" 327 $a""14. IMF Top-down Solvency Test: Descriptive Statistics/FSIs"" 330 3 $aThis Technical Note on Stress Testing the Banking Supervision was prepared in the context of the Financial Sector Assessment Program (FSAP) for the People?s Republic of China?Hong Kong Special Administrative Region (HKSAR). Bank liquidity tests focus on sudden, sizable withdrawals of funding and the sufficiency of existing assets to withstand those shocks under stressed conditions. The stress test results confirm a high degree of resilience of the sector. This reflects the strength of the banks at the starting position, which reduces their fundamental vulnerability to shocks. Banks in HKSAR hold very high levels of capital, are very profitable, and have a low level of asset impairments amid stable funding profiles. The Hong Kong Monetary Authority is encouraged to continue its integration of risk-based supervision in the development of stress test scenarios for macroprudential policy and surveillance. Banking supervisors routinely conduct stress tests and, from time to time, modify relevant assumptions in order to support thematic reviews of identified vulnerabilities against emerging risks. 410 0$aIMF Staff Country Reports; Country Report ;$vNo. 2014/210 606 $aEconomic development 606 $aInternational finance 606 $aBanks and Banking$2imf 606 $aFinance: General$2imf 606 $aMoney and Monetary Policy$2imf 606 $aBanks$2imf 606 $aDepository Institutions$2imf 606 $aMicro Finance Institutions$2imf 606 $aMortgages$2imf 606 $aFinancial Institutions and Services: Government Policy and Regulation$2imf 606 $aGeneral Financial Markets: Government Policy and Regulation$2imf 606 $aMonetary Systems$2imf 606 $aStandards$2imf 606 $aRegimes$2imf 606 $aGovernment and the Monetary System$2imf 606 $aPayment Systems$2imf 606 $aBanking$2imf 606 $aFinance$2imf 606 $aFinancial services law & regulation$2imf 606 $aMonetary economics$2imf 606 $aStress testing$2imf 606 $aCommercial banks$2imf 606 $aCapital adequacy requirements$2imf 606 $aBasel III$2imf 606 $aFinancial sector policy and analysis$2imf 606 $aCurrencies$2imf 606 $aMoney$2imf 606 $aFinancial institutions$2imf 606 $aSolvency stress testing$2imf 606 $aFinancial regulation and supervision$2imf 606 $aBanks and banking$2imf 606 $aFinancial risk management$2imf 606 $aAsset requirements$2imf 606 $aState supervision$2imf 607 $aHong Kong Special Administrative Region, People's Republic of China$2imf 615 0$aEconomic development. 615 0$aInternational finance. 615 7$aBanks and Banking 615 7$aFinance: General 615 7$aMoney and Monetary Policy 615 7$aBanks 615 7$aDepository Institutions 615 7$aMicro Finance Institutions 615 7$aMortgages 615 7$aFinancial Institutions and Services: Government Policy and Regulation 615 7$aGeneral Financial Markets: Government Policy and Regulation 615 7$aMonetary Systems 615 7$aStandards 615 7$aRegimes 615 7$aGovernment and the Monetary System 615 7$aPayment Systems 615 7$aBanking 615 7$aFinance 615 7$aFinancial services law & regulation 615 7$aMonetary economics 615 7$aStress testing 615 7$aCommercial banks 615 7$aCapital adequacy requirements 615 7$aBasel III 615 7$aFinancial sector policy and analysis 615 7$aCurrencies 615 7$aMoney 615 7$aFinancial institutions 615 7$aSolvency stress testing 615 7$aFinancial regulation and supervision 615 7$aBanks and banking 615 7$aFinancial risk management 615 7$aAsset requirements 615 7$aState supervision 676 $a338.9 801 0$bDcWaIMF 906 $aBOOK 912 $a9910791297603321 996 $aPeople?s Republic of China?Hong Kong Special Administrative Region$93716324 997 $aUNINA