Global Trustee and Fiduciary Services Bite-Sized Issue 2 2025

12 QUICK LINKS BENCHMARKS REGULATION CRYPTOASSETS DORA EMIR FSB MIFID II/MIFIR MMF SUSTAINABLE FINANCE/ESG T+1 ASIA EUROPE INTERNATIONAL LUXEMBOURG NETHERLANDS NORTH AMERICA UNITED KINGDOM Global Trustee and Fiduciary Services Bite-Sized | Issue 2 | 2025 NewMeasures to Deepen Financial Cooperation between Hong Kong and the Mainland On 13 January 2025, the HKMA and the People’s Bank of China (PBoC) announced new policy measures to deepen the financial market connectivity between Hong Kong and the Mainland, and consolidate Hong Kong’s status as the global offshore RMB business hub. These measures include: 1. Introduction of the HKMA RMB Trade Financing Liquidity Facility; 2. Further enhancement and expansion of Bond Connect (Southbound); 3. Offshore RMB repurchase (repo) using Northbound Bond Connect bonds as collateral; 4. Inclusion of Northbound Bond Connect bonds as eligible margin collateral at OTC Clearing Hong Kong Limited (OTCC); 5. Cross-boundary payment facilitation; and 6. GBA financial facilitation. Link to Press Release here EUROPE An EU Compass to Regain Competitiveness and Secure Sustainable Prosperity On 29 January 2025, the European Commission (EC) published its Competitiveness Compass, the first major initiative of the current EC, providing a strategic and clear framework to steer its work. The EC says that the Compass sets a path for Europe to become the place where future technologies, services, and clean products are invented, manufactured, and put on the market, while being the first continent to become climate neutral. The EC says that there are three core areas for action: • Closing the innovation gap; • A joint roadmap for decarbonisation and competitiveness; and • Reducing excessive dependencies and increasing security. The EC says that the above three pillars are complemented by five horizontal enablers, which are essential to underpin competitiveness across all sectors: • Simplification; • Lowering barriers to the Single Market; • Financing competitiveness; • Promoting skills and quality jobs; and • Better coordination of policies at EU and national level. Link to Competitive Compass for the EU here Link to Competitiveness Compass Factsheet here