HKMA: Clean Up IT Problem Reporting
Since the examinations are conducted annually and HKMA stays in regular contact with AIs, no major surprises were found, says Nelson Chow, senior manager of HKMA's banking supervision division. However, the audit results reveal a laxity in documenting issues and dealing with problems in a timely fashion by some AIs, he adds.
The most severe problems found by HKMA were delays in replacing malfunctioning components. In one instance, a failure to replace a faulty system led to a major system
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