Singapore & Hong Kong Double Down on Banking Supervision Ties

Key Takeaways

• Strengthened Oversight: MAS and HKMA signed a new Memorandum of Understanding (MoU) on September 17, 2025, to deepen supervisory cooperation.
• Cross-Border Focus: The pact reflects the growing presence of banks operating across Singapore and Hong Kong and the need for tighter cross-jurisdiction oversight.
• Practical Impact: The MoU establishes clearer frameworks for information exchange, mutual assistance, and sharing of supervisory best practices.
• Leadership Perspective: MAS Managing Director Chia Der Jiun and HKMA Chief Executive Eddie Yue both emphasized the importance of collaboration between two leading financial centers.

Deep Dive

Singapore and Hong Kong, two of Asia’s busiest financial hubs, have decided it’s time to take their long-standing cooperation up a notch. On September 17, the Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) signed a new Memorandum of Understanding (MoU) designed to strengthen cross-border banking supervision.

Chia Der Jiun, MAS’s Managing Director, described the agreement as more than just paperwork.

“This MoU reaffirms the strong partnership between MAS and the HKMA and paves the way for deeper collaboration, fostering supervisory cooperation, exchange of information and sharing of best practices in key areas of mutual interest between the authorities,” he said.

The pact may not carry the drama of a multibillion-dollar merger or a headline-grabbing penalty, but for the financial sector it’s quietly significant. Banks based in Singapore and Hong Kong have long been operating across each other’s borders, and regulators have spent years working together behind the scenes. This MoU takes that collaboration further, giving both authorities a clearer framework to swap supervisory information, offer mutual assistance, and share lessons learned.

His counterpart in Hong Kong, HKMA Chief Executive Eddie Yue, framed it in the context of global finance, “Hong Kong and Singapore are the two leading international financial centers in the region. The signing of the MoU reinforces the close ties between the two authorities and enhances supervisory cooperation and information sharing in respect of cross-border banking matters in both jurisdictions.”

Regulators on both sides recognize that in an era of sprawling cross-border operations, strong supervisory ties are a necessity. The MoU doesn’t just keep regulators talking, but rather it sets a tone that could help banks better navigate the complex, interwoven risks of operating in two of Asia’s most competitive and globally connected markets.

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