are increasingly not deposit-takers in the original
sense but are still essentially part of the banking
sector. At the same time, the larger local deposit-
taking companies following their traditional
business feel that their scope is unduly limited.
The deposit-taking companies as a whole consider
that they are still wrongly tarnished by an image
which is now out of date. Consultation on these
issues has been delayed by pressures of immediate
case-work but this will be an urgent task of 1987.
Fortunately, the Hong Kong Government has already
placed the co-ordination of and policy formation for
the different forms of financial trading under the Secretary for Monetary Affairs. Market developments
including securitization, are
a matter of
co-ordinated study which should lead to a better
"grip" in the future.
now
52.
Of the other matters which are under study
and which will be processed in the year ahead, one
is guidelines on the business which authorized
institutions should conduct. The factors mentioned
above have a direct bearing on this basic topic.
The other main matter is provisioning policy where
work has begun with discussions with the Society of
Accountants. This work which will also lead to
guidelines will
will be further processed through the Advisory Committees and the Associations.
29