02220cas a2200301 a 4500 AALejournalIMF021829 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513584072 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. People's Republic of China-Hong Kong Special Administrative Region : Financial Sector Assessment Program-Technical Note-Financial Safety Net and Crisis Management Arrangements. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (26 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Hong Kong SAR has significantly strengthened its crisis management arrangements through a thorough update of the framework for resolution of financial institutions, as recommended by the 2014 Financial Sector Assessment Program. The 2017 Financial Institutions (Resolution) Ordinance (FIRO) creates a resolution regime that is clear, comprehensive in scope, and closely aligned with the Financial Stability Board (FSB) Key Attributes of Effective Resolution Regimes for Financial Institutions. Some aspects of the FIRO, such as the cross-sectoral scope of the regime, are particularly strong. To implement the regime, the Hong Kong Monetary Authority (HKMA) 2 has established a Resolution Office (RO) with clear operational separation from banking supervision. Mode of access: Internet International Agreements imf International Organizations imf Monetary Policy imf Observance imf Hong Kong Special Administrative Region, People's Republic of China imf IMF Staff Country Reports; Country Report ; No. 2021/119 Full text available on IMF http://elibrary.imf.org/view/journals/002/2021/119/002.2021.issue-119-en.xml IMF e-Library