of the international dimension of supervision and the need for good bank management, and assesses the factors which he considers are likely to have an impact on the existing three-tier system.
Proposal
6
an
It is
The provision for an annual report aims
annual report aims to make the Commissioner render
account of his actions. therefore desirable that it be published, particularly in view of the public interest in the events in the
the banking sector in recent years. The statistics appended to the Report should be of general interest. Comments and reactions to this first report will provide useful feedback to the Commissioner on the emphasis and content of future ones. The Report contains ΠΟ market sensitive information, or information on individual institutions. It is therefore proposed that it should be published in full.
Financial and staffing implications
7
There are insignificant financial and по staffing implications in publishing the Report.
Consultation
8
During the extensive consultation leading to the enactment of the Banking Ordinance in May last year, the banking industry welcomed the idea of an annual report by the Commissioner, and favoured its publication subject to any necessary editing out of information оп individual institutions. This is expected to be the advice of the Banking Advisory Committee and Deposit-taking Companies Advisory Committee who are being consulted and whose advice, because of timing, will be reported to Members orally.
Public reaction
9
The general public and the financial community are likely to welcome the publication of the Report and find its contents of interest.
Publicity
10
the
If the Report is published, copies will be given to press with a press release, all the banks and deposit-taking companies (about 440), and bank supervisors in other jurisdictions with whom the Commissioner maintains regular contact. A limited number of copies of the Report will be made available to the public on request.