5? Conflict with HK nat’l security law: The HKNSL is potentially in direct conflict with sanctions under the HKAA. Currently, it is unclear whether sanctions against an HK/Chinese entity or FI will be automatically considered as a sanction against the HKSAR or the PRC.
IIF Mon 02 Nov 2020 21:12

4? Financial markets and economy: The power of U.S. sanctions lies in the preeminence of the U.S. dollar in HK’s economy; it accounts for over half of China’s offshore financing and over one-third of the total deposits in HK.
IIF Mon 02 Nov 2020 21:12

3? U.S. FIs: Though not themselves the primary target of HKAA sanctions, U.S. FIs will have to cut their services to sanctioned foreign persons or financial institutions.
IIF Mon 02 Nov 2020 21:12

2? Chinese corporates: While HKAA sanctions are primarily aimed at financial institutions, they pose a more severe threat to corporates that depend heavily on U.S. Dollar financing.
IIF Mon 02 Nov 2020 21:12

1? Chinese FIs: The most significant threat to Chinese FIs will be their loss of access to loans, Dollar transactions, and banking transfer and payment services by U.S. banks.
IIF Mon 02 Nov 2020 21:12

China Spotlight: The Hong Kong Autonomy Act (HKAA) passed by Congress in July 2020 authorizes sanctions against "foreign persons" that "contribute to undermining Hong Kong's autonomy." Our latest analysis examines the potential risk from the perspective of five entities:
IIF Mon 02 Nov 2020 21:12

The final day of last week’s #IIFLive featured nearly 20 leaders in the financial services industry providing their perspectives on priorities for financing a sustainable economy. @GoldmanSachs President and COO John Waldron shared what he is hearing from clients on this topic: https://t.co/BmThewuA96
IIF Mon 19 Oct 2020 21:49

Last week, @BofA_News’s CEO and Chairman of the Board, Brian Moynihan, joined IIF’s @timothydadams for a virtual #IIFLive conversation on the post-pandemic economic outlook and the rising interest in sustainable finance in the financial services sector. Watch: https://t.co/6cL6KMEGJP
IIF Mon 19 Oct 2020 20:54

Last week, @BankofAmerica’s CEO and Chairman of the Board, Brian Moynihan, joined IIF’s @timothydadams for a virtual #IIFLive conversation on the post-pandemic economic outlook and the rising interest in sustainable finance in the financial services sector. Watch: https://t.co/GJDYfh4riN
IIF Mon 19 Oct 2020 19:49

That's all for this year's Annual Membership Meetings. Once again, thank you to all of our sponsors: @SPGlobal, @DIFC, @EY_Banking, @FitchRatings, @MoodysInvSvc, and @TheBanker #IIFLive https://t.co/1Id5VD3aCa
IIF Fri 16 Oct 2020 19:06

Some more #IIFLive “Views from the C-Suite”: @WellsFargo CEO and President Charlie Scharf speaks to @timothydadams about the strength of the financial system and the U.S.’s COVID-19 response. https://t.co/YyOmJKgX8f
IIF Fri 16 Oct 2020 17:56

.@SPGlobal President and CEO Doug Peterson on leading his organization through a pandemic: "At the micro level, at our own organizations, we’ve had to take care of our people, and we’ve had to put our people first." #IIFLive https://t.co/8J7eEuflLd
IIF Fri 16 Oct 2020 16:51

Today's “Views from the C-Suite” series at #IIFLive kicked off with insights from @dbsbank CEO Piyush Gupta. Follow along for more updates from the last day of our Annual Membership Meeting. https://t.co/7bQUhIjjHc
IIF Fri 16 Oct 2020 14:11

ICYMI: During yesterday’s #IIFLive Regulatory track, we heard from #FederalReserve Vice Chair for Supervision Randal Quarles as he updated our members on the Fed’s lessons learned from the COVID-19 stress on the financial system so far. Watch: https://t.co/kUrxvcuCWy
IIF Fri 16 Oct 2020 13:06

#IIFLive Day 4: Joyce Chang of @jpmorgan speaks to the widening wealth gap between the top 10% and bottom 50% of households in the U.S., despite the massive COVID-19 fiscal stimulus. Check it out: https://t.co/7AEHIxpWfb
IIF Thu 15 Oct 2020 17:40

RT @INTERPOL_SG: At the #IIFLive meeting, I underlined how cooperation is essential to intercept illicit money flows across different insti…
IIF Thu 15 Oct 2020 17:20

The @EU_Commission's @VDombrovskis joined us early this morning for Day 4 of #IIFLive. Hear from him on the Commission's priorities for digital finance in a changing world: https://t.co/XyngkPXybG
IIF Thu 15 Oct 2020 14:40

RT @VDombrovskis: Good to exchange views at @IIF annual meeting on the EU’s approach to tackling the crisis and look forward to development…
IIF Thu 15 Oct 2020 14:05

“I’m very optimistic about 2021.” Qatar Investment Authority CEO Mansoor Al Mahmoud shared his positive outlook on M&A activity bouncing back following the COVID-19 crisis in our #IIFLive panel: “Views from the C-Suite: Wealth and Asset Management”. https://t.co/5NoXVOVwNE
IIF Thu 15 Oct 2020 11:45

In another #IIFLive highlight, attendees heard from #FederalReserve Vice Chair Richard Clarida, who shared an update on the Fed’s new monetary policy framework and the uncertainty of the economic outlook in the U.S. in a conversation with IIF CEO @timothydadams. Check it out: https://t.co/nTbJPB6r5y
IIF Wed 14 Oct 2020 21:39

Thank you again to our generous #IIFLive sponsors: @SPGlobal, @DIFC, @EY_Banking, @FitchRatings, @MoodysInvSvc, and @TheBanker. https://t.co/eo5H9heb2G
IIF Wed 14 Oct 2020 21:04

During our #IIFLive "Money Redesigned" panel discussion, @Visa Europe CEO Charlotte Hogg provided her insights on the growing need to expand use of and access to digital payments. https://t.co/9LtylREbvj
IIF Wed 14 Oct 2020 15:54

Yesterday, @RobinBrooksIIF moderated an #IIFLive panel discussing the new normal for central banks in the wake of the COVID-19 crisis. Hear what @HyunSongShin of @BIS_org had to say: https://t.co/O1Dkv9YT4d
IIF Wed 14 Oct 2020 14:59

As part of our #IIFLive Day 2 track focusing on Digital Finance and Data, Governor Stefan Ingves of @riksbanken noted that transactional efficiency is a key factor in producing a currency on a panel titled “Money Redesigned”. Watch: https://t.co/Wcd36UP2bE
IIF Tue 13 Oct 2020 22:18

“That’s something we haven’t had to think about in a while.” James McCormack of @FitchRatings asks whether current global conditions might result in sovereigns adding more FX risk to their balance sheets during an #IIFLive panel on emerging markets. Check it out: https://t.co/rVvfMeRufT
IIF Tue 13 Oct 2020 17:13