Outcome of consultation
In December 2016, we published a policy for the dual registration of small foreign-owned banks. The changes took effect from 21 December 2016.
This followed an earlier consultation with stakeholders.
We also published a summary and response to the submissions received on the consultation has also been published.
In June 2016, we published a consultation paper on our approach to registration of foreign-owned banks. The consultation closed on 24 August 2016.
The consultation proposed a framework for assessing whether these banks may be permitted to ‘dual-register’, simultaneously operating a local branch alongside an existing subsidiary.