Which regulatory authority in Hong Kong is responsible for the stability of the financial system?

The Hong Kong Monetary Authority (HKMA) plays a crucial role in ensuring the stability of the financial system in Hong Kong. As the central banking institution of Hong Kong, the HKMA's primary functions include regulating and supervising the banking sector, promoting monetary stability, and managing the Hong Kong dollar's currency board system. It works to safeguard the integrity of the financial system and enhance its stability by implementing policies that mitigate systemic risks.

In addition to its macro-prudential oversight, the HKMA operates various systems that contribute to financial stability, including the payment and settlement systems, which are vital for a smooth functioning of the financial markets. By maintaining a stable banking system and ensuring effective regulatory frameworks, the HKMA helps to foster a safe and secure environment for financial transactions and investments in Hong Kong.

The other entities mentioned are responsible for different regions or functions. For instance, the Hong Kong Securities and Futures Commission (SFC) focuses on regulating the securities and futures markets in Hong Kong, rather than the entire financial system's stability. The Monetary Authority of Singapore (MAS) oversees Singapore's financial sector, and the Australian Securities and Investments Commission (ASIC) regulates financial services and consumer protection in Australia. Therefore, their roles are specific to their jurisdictions and do