HKMA and MAS Strengthen Banking Supervision Cooperation

The Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS) have announced a significant step forward in their banking supervisory cooperation. On September 17, 2025, the two financial authorities exchanged a Memorandum of Understanding (MoU) aimed at strengthening their collaboration in this critical sector.

Enhanced Supervisory Cooperation

This MoU marks a new chapter in the longstanding relationship between HKMA and MAS. The agreement is designed to bolster the existing framework of information exchange and mutual assistance for supervisory purposes. This cooperation is particularly crucial given the substantial presence of banks from both jurisdictions operating across borders.

Leadership Perspectives

Eddie Yue, Chief Executive of the HKMA, emphasized the importance of the MoU, stating, “Hong Kong and Singapore are the two leading international financial centers in the region. The signing of the MoU reinforces the close ties between the two authorities and enhances supervisory cooperation and information sharing in respect of cross-border banking matters in both jurisdictions.”

Chia Der Jiun, Managing Director of MAS, echoed this sentiment, noting, “This MoU reaffirms the strong partnership between MAS and the HKMA and paves the way for deeper collaboration, fostering supervisory cooperation, exchange of information and sharing of best practices in key areas of mutual interest between the authorities.”

Implications for Cross-Border Banking

The enhanced cooperation will likely lead to more robust supervision of cross-border banking operations. This is expected to improve the stability and integrity of financial systems in both Hong Kong and Singapore. The MoU allows both authorities to leverage each other’s expertise, thereby enhancing their supervisory capabilities.

For more details, please refer to the official announcement by the Hong Kong Monetary Authority.

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