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HKMA: East Asia (00023) is no longer recognized as a local systemically important authorized institution

In 2015, the Hong Kong Monetary Authority published the local systemically important authority (D-SIB) index based on a set of principled frameworks issued by the Basel Committee on Banking Supervision. D-SIB's authorized institutions are systemically important banks (SIB), meaning that once these banks get into trouble or fail, they will have a significant impact on the financial system and the wider economy. 
 
As of December 24, 2021, the Hong Kong Monetary Authority has given the title to 6 banks; HSBC in the fourth group, Bank of China (Hong Kong) and Hang Seng Bank in the second group, and the first group Standard Chartered Bank (Hong Kong) and Industrial and Commercial Bank of China (Asia). And the Bank of East Asia, but the Monetary Authority stated that according to the results of the annual assessment and considering the systematic importance of the Bank of East Asia (0023. HK) relative to other institutions, the bank is no longer recognized as a D-SIB in this assessment. The latest list will take effect on January 1 next year. There are 5 authorized institutions designated as D-SIB, including The Hongkong and Shanghai Banking Corporation, Bank of China (02388), Standard Chartered Bank (Hong Kong), Hang Seng Bank (00011), and Industrial and Commercial Bank of China Asia.
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