Hong Kong banks are bracing for change to the regulatory system, following an address by Hong Kong Monetary Authority chief executive Joseph Yam Ch-kwong yesterday. In a lunch talk to the Hong Kong Institute of Bankers, Mr Yam said the authority was overhauling its supervisory system to adjust to longer-term risks facing the industry, such as continuing sector consolidation, increased exposure to the mainland market and changing international banking standards. 'We are carrying out an internal review on this. As a result, there may be a need for us to make adjustments,' he said.
